It takes the average reader and 32 minutes to read Inequality and the Structure of Countries’ External Liabilities by Philipp Harms
Assuming a reading speed of 250 words per minute. Learn more
In this paper, we present empirical evidence that higher income inequality is associated with a greater equity share in countries' external liabilities, and we develop a theoretical model that can explain this observation: In a small open economy with traded and nontraded goods, entry barriers depress entrepreneurial activity in nontraded industries and raise income inequality. The small number of domestic nontraded-goods firms leaves room for foreign firms to operate on the domestic market, and it reduces external borrowing. The model suggests that barriers to entrepreneurial activity could be conducive to attract equity-type capital inows. Our empirical results lend some support to this conjecture.
Inequality and the Structure of Countries’ External Liabilities by Philipp Harms is 32 pages long, and a total of 8,064 words.
This makes it 11% the length of the average book. It also has 10% more words than the average book.
The average oral reading speed is 183 words per minute. This means it takes and 44 minutes to read Inequality and the Structure of Countries’ External Liabilities aloud.
Inequality and the Structure of Countries’ External Liabilities is suitable for students ages 8 and up.
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