HOW MUCH DO DISTORTIONS AFFECT GROWTH
HOW MUCH DO DISTORTIONS AFFECT GROWTH
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DOI：
10.1016/0304-3932(93)90002-w
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发表时间：
1993-11-01
影响因子：
4.1
通讯作者：
EASTERLY, W
中科院分区：
文献类型：
--
作者：
EASTERLY, W
本文提出了一个包含两类资本的简单内生增长模型，该模型可以显示出扭曲政策的相当大的长期增长效应。该模型适用于发展中国家常见的许多不同类型的相对价格扭曲，如差别税收和关税、黑市汇率和价格控制。该模型表明，通过对另一种资本品征税来补贴一种资本，会降低经济增长。衡量投资品在各个部门的相对价格差异，对经济增长有负的、统计上显著的影响。
This paper presents a simple endogenous growth model with two types of capital which can display sizeable long-run growth effects of distortionary policies. The model applies to many different types of distortions of relative prices common in developing countries, such as differential taxes and tariffs, black market exchange rates, and price controls. The model shows that a subsidy to one type of capital financed by a tax on another capital good lowers growth. A measure of the variance of relative prices of investment goods across sectors has a negative and statistically significant effect on growth.