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GTAP Resource #1701

"Capital mobility and spillovers within a modular approach to multiregion modeling"
by Leimbach, Marian and Ottmar Edenhofer

This paper presents a novel approach to multiregion modeling. This approach is capable to reproduce the results from the traditional Negishi approach. In contrast to the latter, however, it also allows to model technological spillovers induced by foreign direct investments. Within the model presented, foreign investments and trade are linked by the balance of payment concept. The way of finding an equilibrium solution in a multiregional dynamic framework differs from existing methods. However, it resembles the solution method applied to the Arrow-Debreu type computable general equilibrium models in using an imaginary auctioneer who balances the interactions of the decentralized agents. We discuss the characteristics of the underlying tatonnement process which, in contrast to the joint maximization with the Negishi approach, is nummerically implemented as decentralized optimization. According to first results, it turns out that there are only moderate positive feedbacks from technological spillovers to the foreign direct investors (technological forerunners).

Resource Details (Export Citation) GTAP Keywords
Category: 2005 Conference Paper
Status: Published
By/In: Presented at the 8th Annual Conference on Global Economic Analysis, Lübeck, Germany
Date: 2005
Created: Leimbach, M. (4/28/2005)
Updated: Leimbach, M. (4/28/2005)
Visits: 2,388
No keywords have been specified.

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