This paper studies the properties of a dynamic Heckscher-Ohlin model - a combination of a static two-good, two-factor Heckscher-Ohlin trade model and a two-sector growth model - with infinitely lived consumers where international borrowing and lending are not permitted. We obtain two main...

We show that in a dynamic Heckscher-Ohlin model the timing of a country's development relative to the rest of the world affects the path of the country's development. A country that begins the development process later than most of the rest of the world-a late-bloomer-ends up with a permanently...

This paper studies the properties of a dynamic Heckscher-Ohlin model-a combination of a static two-good, two-factor Heckscher-Ohlin trade model and a two-sector growth model-with infinitely lived consumers where international borrowing and lending are not permitted. We obtain two main results:...

This paper studies the properties of a dynamic Heckscher-Ohlin model - a combination of a static two-good, two-factor Heckscher-Ohlin trade model and a two-sector growth model - with infinitely lived consumers where international borrowing and lending are not permitted. We obtain two main...