Capital market liberalization: Optimal tradeoff and bargaining delay

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• 作者：Baomin Dong^a ; Xinhua Gu^b ; Huasheng Song^c ; ^{songzju@zju.edu.cn}
• 关键词：C78 ; D84 ; F15 ; F36 ; F41 ; F59
• 刊名：The North American Journal of Economics and Finance
• 出版年：2017
• 出版时间：January 2017
• 年：2017
• 卷：39
• 期：Complete
• 页码：78-88
• 全文大小：1300 K
• 卷排序：39

文摘

Host and investing countries tradeoff between growth and volatility from capital flows. One side’s push for opening often encounters the other side’s reluctance. We examine how this conflict of interest is resolved through sequential bargaining. Openness bargaining can end up with strategic delay. Findings shed light on certain puzzles in international finance.