A panel data analysis is used to evaluate the effects on openness/inequalities relationship of such factors as factor endowments, associated trade diversification paths, openness of low wage Asiatic countries and technological bias in imports. The focus is on Latin America. Predictions of...

A reduction in income tax rates generates substantial dynamic responses within the framework of the standard neoclassical growth model. The short-run revenue loss after an income tax cut is partly - or, depending on parameter values, even completely - offset by growth in the long-run, due to the...

This work shows the asymmetric effect of the reduction in transportation costs across different sectors in the process of the Great Divergence. Specifically, the analysis indicates that reductions in transportation costs of industrial goods enhance convergence of the growth rates of trading...

This paper demonstrates, in the context of a two-sector OLG neoclassicalgrowth model, conditions under which international trade in consumptiongoods alone may be sufficient for the equalization of real returns to physicalcapital across countries; that is, under which commodity arbitrage is...

(english) Core labour standards defined by the ILO in 1998 are universal, but applied very differently across countries. Compliance is much higher in high income countries. However, the causality between improved labour standards and economic growth remains a controversial issue. Export-led...

This paper re-examines the ability of sticky-price models to generate volatile and persistent real exchange rates. We use a DSGE framework with pricing to market to illustrate the link between real exchange rate dynamics and what the model assumes about physical capital. We show that adding...

Economic globalisation can be defined as growing interdependence of financial and goods and services markets in the international scale. The important part of globalisation form supranational corporations, which are reaction on the rising competitiveness and need for strategic alliances. The...

This paper presents empirical evidence from a cross-section sample of thirty six Sub-Saharan African countries and time-series sample of selected seven. The evidence suggests that countries in the region that open generally tend to grow faster than those that are closed. However, the...

We extend the dynamic Heckscher-Ohlin model in Bond et al. (2009) and show that if the labor intensive good is inferior, then there may exist multiple steady states in autarky and poverty trap can arise. Poverty traps for the world economy, in the form of Pareto dominated steady states, are also...

Les normes de travail définies par l’OIT en 1998 sont universelles mais très différemment appliquées dans les pays. Elles sont d’autant mieux respectées que les pays disposent d’un revenu élevé. Néanmoins la causalité entre les normes de travail et la croissance reste une question...