trade improve. An improvement in the terms of trade is similar to a technological progress. The national accounts treat the … two phenomena very unevenly, however, with a change in the terms of trade considered to be a price event and thus not … account by real GDP either. Given its extreme openness and in view of the massive terms-of-trade improvements that it has …

This chapter analyzes the effect of international trade on the local stability properties of economies in a Heckscher …-Ohlin free-trade equilibrium. We formulate a two-factor (capital and labor), two-good (consumption and investment), two … investment good sector. In the autarky equilibrium and the free-trade equilibrium, we show the existence of endogenous cycles …

produced by the most talented individuals. In this country, trade exacerbates the polarization of labor and often worsens the …

to specialize relatively in the good produced by individuals. Trade exacerbates the “polarization” of the more diverse …

to specialize relatively in the good produced by individuals. Trade exacerbates the “polarization” of the more diverse …

generates a comparative disadvantage for this country in team production. Trade exacerbates the 'polarization' of the more …

Do high levels of human capital foster economic growth by facilitating technology adoption? If so, countries with more …. High human capital levels should therefore have translated into fast growth in more compared to less human … determinant of growth in human-capital-intensive industries. Using data for a large sample of countries, we find significant …

asymmetrically. The gains from trade were channeled towards population growth in non-industrial nations while in the industrial … nations they were directed towards investment in education and growth in output per capita. International trade enhanced the … that even if trade equalizes output growth of the trading countries, (due to the terms of trade effect), income per capita …

towards investment in education and growth in output per capita, a significant portion of the gains from trade in non …This research argues that the rapid expansion of international trade in the second phase of the industrial revolution … countries in the last two centuries. The analysis suggests that international trade had an asymmetrical effect on the evolution …

gains from trade have been directed towards investment in education and growth in income per capita, whereas a significant …This research argues that the differential effect of international trade on the demand for human capital across … portion of these gains in less developed economies have been channeled towards population growth. Cross-country regressions …