Economic development is accompanied by structural change. The trade theoretic literature offers two major hypotheses – i. e., the factor-endowment and the total-factor-productivity-- for explaining the stylized facts of structural change. This note revisits these hypotheses. In particular, it...

The rush for land acquisition—primarily driven by food shortage and run for agrofuel—has drawn considerable attention. Some documents published in late 2009, 2010, and 2011 report this phenomenon. Terminological differences aside, it is—quite distinct from materials or service...

This paper compares the evolution of wage inequality along three different skill groups (low-, middle- and high-skilled) across five industrialized countries (Finland, Germany, Italy, Korea and the US). Despite similar exposure to technological change, the countries exhibit significant...

At the heart of the Skill Biased Technical Change literature is a discussion of the temporal impact of technological change on wages. The narrative describes technological change as allowing for the increased codification of routine tasks which enables capital to become more easily substituted...

The contrasting effects of labour market rigidity on efficiency are investigated in a model where technological change is non-general purpose and different types of skills are available to workers. Ex ante efficiency calls for high labour market rigidity, as this favours workers’ acquisition...

Differences between domestic financial systems can lead to international trade. A country with relatively developed or decentralized financial systems will export innovative commodities while a country with less developed and centralized financial systems will export traditional commodities....

This paper attempts to cater the impact of changes in trade policies on the volume of a non-traded health care of a developing economy. In this article we have framed a hybrid type of three sector general equilibrium trade model, where first two sectors form a Heckscher-Ohlin nugget and the...

This analysis, in terms of a four-sector static general equilibrium framework, models the urban informal sector for a typical developing economy with labour market distortion in the form of unionised urban sector labour market and capital market segmentation between urban informal and formal...

In this study, we predict a pattern of offshoring and reshoring over the course of economic development. We achieve this, by extending Grossman and Rossi-Hansberg's (2008) model of offshoring in a simple way by assuming that offshoring requires both workers and capital in the offshored country....