TY - JOUR
T1 - Capital markets integration, growth and income distribution
AU - Viaene, Jean Marie
AU - Zilcha, Itzhak
PY - 2002
Y1 - 2002
N2 - The paper considers a two-country model of overlapping generation heterogenous economies with intergenerational transfers carried out in the form of bequest and investment in human capital. We examine in competitive equilibrium the transitory and long-run effects of capital markets integration. First, we explore how the regime of public education affects the dynamics of the integrated economy. Second, we study the effects of capital markets integration, in equilibrium, on the intragenerational income distribution in both the host and investing country.
AB - The paper considers a two-country model of overlapping generation heterogenous economies with intergenerational transfers carried out in the form of bequest and investment in human capital. We examine in competitive equilibrium the transitory and long-run effects of capital markets integration. First, we explore how the regime of public education affects the dynamics of the integrated economy. Second, we study the effects of capital markets integration, in equilibrium, on the intragenerational income distribution in both the host and investing country.
KW - Altruism
KW - Capital markets integration
KW - Growth
KW - Human capital
KW - Income distribution
UR - http://www.scopus.com/inward/record.url?scp=0036154785&partnerID=8YFLogxK
U2 - 10.1016/S0014-2921(01)00097-6
DO - 10.1016/S0014-2921(01)00097-6
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AN - SCOPUS:0036154785
SN - 0014-2921
VL - 46
SP - 301
EP - 327
JO - European Economic Review
JF - European Economic Review
IS - 2
ER -