Credit constraints and human capital accumulation in the open economy

• 成果类型: Article
• 署名作者: Cartiglia, F
• 刊物名称: JOURNAL OF INTERNATIONAL ECONOMICS
• ISSN/ISSBN: 0022-1996
• DOI: 10.1016/S0022-1996(96)01469-9
• 发表日期: 1997
• 页码: 221-236
• 关键词: comparative advantage; human capital; Income distribution; capital market imperfections

摘要

This paper analyzes the implications of capital market imperfections for understanding the causes and consequences of international trade. Credit constraints in financing education and exogenous income distribution affect patterns of comparative advantage and are crucial in determining the impact of international trade. Unlike the standard results in the trade literature, in the model here, trade liberalization in a skill-scarce country leads to higher investments in human capital.