1. THE PAYMENTS IMPACT OF FOREIGN INVESTMENT CONTROLS: COMMENT.
- Author
-
STEVENS, GUY V. G.
- Subjects
FOREIGN investments ,BALANCE of payments ,CAPITAL movements ,CAPITAL ,CASH flow ,INVESTMENTS ,ECONOMIC development ,EXPORTS - Abstract
By demonstrating the superiority of the present-value to the recoupment-period criterion, Peter Lindert [2] has made a major contribution to the analysis of foreign investment controls. In fact, after reading Lindert's analysis, one wonders how the recoupment-period criterion got a foothold in the first place' the assessment of the net impact of a control program is clearly dependent on a comparison of capital inflows and outflows occurring at different points in time; and the accepted and traditional way to make such intertemporal comparisons is by a present value calculation. [ABSTRACT FROM AUTHOR]
- Published
- 1976
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