Barriers and the transition to modern growth

• 成果类型: Article
• 署名作者: Ngai, LR
• 署名单位: University of London; London School Economics & Political Science
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/j.jmoneco.2003.12.005
• 发表日期: 2004
• 页码: 1353-1383
• 关键词: income differences; distortions; TRANSITION; industrialization

摘要

This paper argues that barriers affect both the beginning date and the subsequent pace of modern growth, and taking into account this fact enriches our knowledge of cross-country income differences. The model matches the observed inverted U-shape of cross-country income differences, which implies that a substantial fraction Of Current income differences is transitional. Hence, the model requires smaller barriers to account for current income differences relative to models that focus only on steady states. Empirically, I find that differences in the beginning dates of modern growth explain large differences in incomes. (C) 2004 Elsevier B.V. All rights reserved.