This paper presents a discrete-time growth model to describe the dynamics of a multi-agent economy, and the model consists of production process, exchange process, price and technology adjustment processes etc. Technologies of agents in each period are represented by a technology matrix pair,...

Building on Eaton and Kortum's (2002) model of Ricardian trade, Alvarez and Lucas (2005) calculate that a small country representing 1% of the world's GDP experiences a gain of 41% as it goes from autarky to frictionless trade with the rest of the world. But the gains from openness, which...

Recent research in international trade emphasizes the importance of firms' extensive margins for understanding overall patterns of trade as well as how firms respond to specific events such as trade liberalization. In this paper, we use detailed U.S. trade statistics to provide a broad overview...

What effects do more open trade policies have on transitional and long run growth rates? This is the central question in trade and growth. Yet, despite numerous empirical studies over the past twenty-five years there are almost no enduring, robust results on the importance of (openness to) trade...

Given Latin America general specialization in resource-based products, this paper focus on the question as to whether or not it is possible for a country specialized in resource-based products to have high rates of export and growth. To do that, an attempt is made to develop and apply a new...

FDI has received surprisingly little attention in theoretical and empirical work on openness and growth. This paper presents a theoretical growth model where MNCs directly affect the endogenous growth rate via technological spillovers. This is novel since other endogenous growth models with...

This study aims to show the direction of causalities between imported production goods (investment and intermediate) and foreign exchange rate, export, and gross national product, between export and gross national product (GNP) during import substitution and export oriented industrialization...

The 1870-1913 period marked the birth of the first era of trade globalization. How did this tremendous increase in trade affect economic development? This work isolates a causality channel by exploiting the fact that the steamship produced an asymmetric change in trade distances among countries....

Aprovechando un nuevo conjunto de datos que incluye el contenido tecnológico de cada producto así como su calidad, examinamos algunos aspectos del flujo del intercambio comercial entre Brasil y China y cuestionamos la postura de que el crecimiento de China implicaría una desindustrialización...

We take advantage of a novel dataset that incorporates the technological content of each product and its quality to unveil some features of Brazil-China’s trade flows and challenge the view that the emergence of China would imply the deindustrialization of Brazilian exports. We show that...