Rich and Poor Countries in Neoclassical Trade and Growth  

Oleh:

Deardorff, Alan V.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 111 no. 470 (2001), page 277-294.
Topik: GROWTH; countries; neoclassical trade; growth
Fulltext: 277.pdf (419.51KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: EE28.3 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

Lihat Detail Induk

Isi artikel

A neoclassical growth model provides an explanation for a 'poverty trap', 'club convergence', or 'twin peaks', in terms of specialisation and international trade. The model has many countries with identical linearly homogeneous technologies for producing three goods using capital and labour. With diverse initial endowments, initial equilibrium has unequal factor prices and two diversification cones. With savings out of wages, following Galor (1996), there may easily be multiple steady states. Poor countries converge to a low steady state while rich countries converge to a high one, even though all share identical technological and behavioural parameters.

Opini Anda

Klik untuk menuliskan opini Anda tentang koleksi ini!

Kembali