A Study of Endogenizing Regulated Interest Rates and Capital Flows under Financial Deregulation

Yeong-Rin Kim
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Yeong-Rin Kim: The Bank of Korea

Korean Economic Review, 1991, vol. 7, issue 1, 147-171

Abstract: The purpose of this paper is to develop a model that shows how partial regulation affects interest rates and capital flows under financial deregulation. The suggestion from the model is that regulated interest rates and capital flows should be endogenously specified as reflecting different stages of financial deregulation. Different degrees of financial deregulation make economic agents accessible to different combinations of asset choices, which is mainly caused by changes in unofficial loan markets and foreign capital markets under the process of financial deregulation.

Date: 1991
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