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| Author: | Makin, A. |
| Title: | Capital market integration and Australia's external surplus |
| Journal: | Economia Internazionale
1993 : NOV, VOL. 46:4, p. 388-402 |
| Index terms: | CAPITAL MARKETS AUSTRALIA ECONOMICS |
| Language: | eng |
| Abstract: | The primary purpose of this paper is to model the impact of international capital market integration on domestic saving, investment, the capital account, output and the standard of living of a small economy facing world interest rates. To do this, Section 2 of the paper develops a simple intertemporal framework for a financially open economy like Australia which synthesises aspects of Alexander's (1952) absorbtion approach and Fisherian capital theory. |
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