Foreign capital and the contractionary impact of currency devaluation, with an application to Jamaica

The paper analyzes the effects of currency devaluation in a small open economy host to foreign capital. Using a short-run macroeconomic model of the Krugman-Taylor type, it is shown, that the presence of foreign capital provides devaluation with an additional contradictory mechanism, besides those a...

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Veröffentlicht in:Journal of development economics
1. Verfasser: Barbone, Luca (VerfasserIn)
Weitere Verfasser: Rivera-Batiz, Francisco L. (BerichterstatterIn)
Format: UnknownFormat
Sprache:eng
Veröffentlicht: 1987
Schlagworte:
Auslandsinvestition > Wechselkurs > Jamaika > Währungspolitik > Steuerpolitik > Abwertung > Direktinvestition > Aufsatz in Zeitschrift
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Zusammenfassung:The paper analyzes the effects of currency devaluation in a small open economy host to foreign capital. Using a short-run macroeconomic model of the Krugman-Taylor type, it is shown, that the presence of foreign capital provides devaluation with an additional contradictory mechanism, besides those already identified in the literature. The role of taxation policy in this context is examined. Finally, estimates of the relevant effects are offered for Jamaica
Beschreibung:2 Tab.
ISSN:0304-3878