Perfectly Discriminatory Policy towards International Capital Movements in a Dynamic World
一个大国可以通过完全歧视性政策影响贸易伙伴的资本积累，从而最大化自身福利，但并非总是最优策略。
A large country is able to affect its trading partners' accumulation of capital, and so it can alter future market conditions. Capital movements can be regulated by perfectly discriminatory policy to maximize the welfare of the large country by exploiting this link. This policy implies that resource allocation is efficient along the optimal path. In contrast to the use of perfectly discriminatory policy in a static world, it is not always optimal for the large country to fully exploit its market power. Copyright 1989 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.