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Neoclassical Growth and Commodity Trade
Cunat, Alejandro; Maffezzoli, Marco - In: Review of Economic Dynamics 7 (2004) 3, pp. 707-736
We construct a dynamic Heckscher-Ohlin model in which the initial distribution of production factors across economies makes factor price equalization impossible. The model produces dynamics similar to those of the neoclassical growth model. However, free trade prevents identically parameterized...
Persistent link: https://www.econbiz.de/10005085506
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Trade, Growth, and Convergence in a Dynamic Heckscher-Ohlin Model
Bajona, Claustre; Kehoe, Timothy - In: Review of Economic Dynamics 13 (2010) 3, pp. 487-513
In models in which convergence in income levels across closed countries is driven by faster accumulation of a … productive factor in the poorer countries, opening these countries to trade can stop convergence and even cause divergence. We …. Divergence can occur for parameter values that would imply convergence in a world of closed economies and vice versa. Second …
Persistent link: https://www.econbiz.de/10008504403
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REGIONAL ECONOMIC GROWTH AND CONVERGENCE, 1950-2007: Some Empirical Evidence
Karras, Georgios - In: Regional Science Inquiry 2 (2010) 1, pp. 11-24
This paper investigates and compares the experience of several geographic regions with economic growth and convergence … of conditional convergence at an estimated average annual rate that has ranged from 0.8% in Europe to 1.7% in Asia. It is … also shown that the speed of convergence is far from constant over time: it has been steadily falling in the OECD and the …
Persistent link: https://www.econbiz.de/10010658721
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REGIONAL ECONOMIC GROWTH AND CONVERGENCE, 1950-2007: Some Empirical Evidence
Karras, Georgios - In: Regional Science Inquiry II (2010) 1, pp. 11-24
This paper investigates and compares the experience of several geographic regions with economic growth and convergence … of conditional convergence at an estimated average annual rate that has ranged from 0.8% in Europe to 1.7% in Asia. It is … also shown that the speed of convergence is far from constant over time: it has been steadily falling in the OECD and the …
Persistent link: https://www.econbiz.de/10010895159