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We present a novel argument demonstrating that when trade is characterized by uncertainty the comparative advantages doctrine is misleading and a positive level of diversification is growth enhancing. Applying a result developed in the mathematical biological literature, we show that, in...
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We present a novel argument demonstrating that when trade is characterized by uncertainty the comparative advantages doctrine is misleading and a positive level of diversification is growth enhancing. Applying a result developed in the mathematical biological literature, we show that, in...
Persistent link: https://www.econbiz.de/10010328594
We present a novel argument demonstrating that when trade is characterized by uncertainty the comparative advantages doctrine is misleading and a positive level of diversification is growth enhancing. Applying a result developed in the mathematical biological literature, we show that, in...
Persistent link: https://www.econbiz.de/10012729579
We review the theories of growth and economic development in which the industrial sector plays a role. We briefly discuss the theoretical arguments that have been put forward in each of them and summarise the explanation of how industrialisation promotes growth and economic development. We...
Persistent link: https://www.econbiz.de/10012998283