Government Expenditure and the Balance of Payments : Budget Deficit, Financial Integration, and Economic Diplomacy

Material type: 文書・図像類

Author: Shibuya, Hiroshi

Publisher: 小樽商科大学ビジネス創造センター

Publication date: 1996-11

Material Format: Digital

Capacity, size, etc.: -

NDC: 333.6

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Notes on use

Note (General)：: This paper studies the international and intertemporal implications of increased government expenditure. First, it reviews the conventional propositio...

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Digital

Material Type: 文書・図像類
Title: Government Expenditure and the Balance of Payments : Budget Deficit, Financial Integration, and Economic Diplomacy
Author/Editor: Shibuya, Hiroshi
Author Heading: Shibuya, Hiroshi
Publication, Distribution, etc.: 小樽商科大学ビジネス創造センター
Publication Date: 1996-11
Publication Date (W3CDTF): 1996-11
Periodical title: Discussion paper series
No. or year of volume/issue: 35
Volume: 35
Pages: 1-21
Text Language Code: eng
Subject Heading: government expenditure
balance of payments
financial integration
economic diplomacy
U.S.-Japan economic relations
twin deficits
経済学
NDC: 333.6
338.3
Target Audience: 一般
Note (General): This paper studies the international and intertemporal implications of increased government expenditure. First, it reviews the conventional proposition that increased government expenditure raises interest rates, crowds out investment, and reduces growth. Then, it shows that this proposition does not necessarily hold in an open economy with integrated international capital markets. This creates a possibility of the strategic intertemporal macroeconomic policy, which minimizes the adverse effects of increased government expenditure on macroeconomic performance. In particular, a country can use economic diplomacy in such a way that government expenditure does not affect its interest rate and potential national income. It offers a new interpretation of the U.S. macroeconomic policy and economic diplomacy toward Japan in the 1980s and 1990s.
Access Restrictions: 限定公開
Data Provider (Database): 国立情報学研究所 : 学術機関リポジトリデータベース（IRDB）（機関リポジトリ）
https://irdb.nii.ac.jp
Original Data Provider (Database): 小樽商科大学 : 小樽商科大学学術成果コレクション