资本账户开放与经济增长关系综述

Relationship Summary between Capital Account Liberalization and Economic Growth

在新古典模型中,开放资本账户有效地推动了资源的国际间分配,使得发展中国家可以获得较低成本的资本流入,从而推动了该国投资的暂时性增加,带动经济增长,最终提高了该国人民的生活水平。经济学家们在这一理论思想的指导下,分别用横断面模型、政策实践观点和企业层面的实践考察了资本账户开放和经济增长之间的关系,其测定理论的研究显示出资本账户开放对资本成本、投资和经济增长有着巨大的影响。

Capital account liberahzation leads capital to flow freely among countries. In the neo - classical model, Capital account liberalization effectively promote the international allocation of resources and make developing countries to obtain a lower cost of capital inflow, and promote the temporary increase of investment in their countries, stimulate economic growth and ultimately increase their people＇ s living standards. In this theory thinking guidance, Economists analyses the relationship between capital account hberalization and economic growth respectively with the cross- sectional approach, the pohcy- experiment approach and the firm - level perspectives. Economists＇ determination theory research shows that capital account liberalization has great impact on the cost of capital, investment and economic growth.