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Why Does Capital Flow to Rich States?

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NBER2005-05-01 更新2025-01-04 收录
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https://www.nber.org/papers/w11301
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The magnitude and the direction of net international capital flows does not fit neo-classical models. The 50 U.S. states comprise an integrated capital market with very low barriers to capital flows, which makes them an ideal testing ground for neoclassical models. We develop a simple frictionless
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2005-05-01
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