Murphy et al. (1989). We show under which conditions the global economy in our model is caught in a poverty trap … the set of parameter combinations leading to a poverty trap, whereas international trade makes it more difficult to …

whether globalisation makes it easier or harder for a country to escape from a poverty trap. Our model gives a definite answer … to this question: Globalisation makes it harder to escape from a poverty trap since the adoption of the modern technology … returns to scale at the firm level and pecuniary externalities can give rise to a poverty trap, thereby formalising an old …

whether globalization makes it easier or harder for a country to escape from a poverty trap. Our model gives a definite answer … to this question: Globalisation makes it harder to escape from a poverty trap since the adoption of the modern technology … returns to scale at the firm level and pecuniary externalities can give rise to a poverty trap, thereby formalising an old …

whether globalisation makes it easier or harder for a country to escape from a poverty trap. Our model gives a definite answer … to this question: Globalisation makes it harder to escape from a poverty trap since the adoption of the modern technology … returns to scale at the firm level and pecuniary externalities can give rise to a poverty trap, thereby formalising an old …

We propose a quantitative framework for the analysis of industrialization in which specialization in manufacturing or …

, growth, and industrialization. It is shown that the counterfactual prediction of new growth theories regarding a positive … process of industrialization, trade policy can influence long-run growth rates even in non-scale growth models. …

, the vicious circle of poverty is aggravated by the forces of globalisation. …Is it possible to escape from a poverty trap through international trade? To answer this question, we extend Murphy et …