國際貿易、借貸市場摩擦與所得分配不平均

International Trade, Frictions in the Borrowing and Lending Market, and Income Inequality

徐則謙(Tse-Chien Hsu)

《經濟論文》 42卷1期 (2014/03) Pp. 79-118

摘要

部份實證研究顯示所得不均度隨貿易流量增加，且此現象在開發中國家較為明顯，但Heckscher-Ohlin（H-O）模型無法解釋比現象。本文使用產業內貿易模型，結合出口具固定成本，以及借貸市場的摩擦，勾勒出開放貿易與不均度間的正向關係。事後違背借貸契約的可能，使得富有者以較低的利率融措出口的固定成本，所以只有富人出口。雖然來自外國生產者的競爭，等比例地降低國內生產者自國內市場取得的毛利潤，但富有者透過出口進入國外市場的能力，使其不但能以國外市場的毛利潤彌補國內市場的損失，相較於封閉系統，他們的淨利潤反而增加，因而加深了所得不均度。

關鍵字

所得分配不平均 ； 借貸市場摩擦 ； 產業內貿易 ； 異質生產者

並列摘要

The positive relationship between inequality and volume of trade is more pronounced in developing countries. The Heckscher-Ohlin model fails to explain this. This research utilizes a model with intra-industry trade, frictions in the borrowing and lending market, and fixed exporting costs to establish a plausible causal link between trade and inequality. The possibility that borrowers will renege on contracts generates a gap between the lending rate and the opportunity costs of capital. Therefore, wealthy agents face lower fixed exporting costs and become exporters. Because trade reallocates market share toward exporters, it increases their profit and enlarges inequality.

並列關鍵字

Income inequality ； Frictions in the borrowing and lending market ； Intra-industry trade ； Heterogeneous producers

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