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We introduce financial frictions in a two sector model of international trade with heterogeneous agents. The level of specialization in the economy (economic development) depends on the quality of financial institutions. Underdeveloped financial markets prohibit an economy to specialize in...
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We introduce financial frictions in a two sector model of international trade with heterogeneous agents. The level of specialization in the economy (economic development) depends on the quality of financial institutions. Underdeveloped financial markets prohibit an economy to specialize in...
Persistent link: https://www.econbiz.de/10009009694
Persistent link: https://www.econbiz.de/10009753343
Persistent link: https://www.econbiz.de/10009664887
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