INDUSTRIALIZATION UNDER PERFECT FORESIGHT - A WORLD-ECONOMY WITH A CONTINUUM OF COUNTRIES
成果类型：
Article
署名作者：
KANEDA, M
署名单位：
Georgetown University
刊物名称：
JOURNAL OF ECONOMIC THEORY
ISSN/ISSBN：
0022-0531
DOI：
10.1006/jeth.1995.1048
发表日期：
1995
页码：
437-462
关键词：
摘要：
A dynamic model of international trade with a continuum of countries is presented. The terms of trade path each country takes as given are endogenous in the model. Countries differ by the rate of time preference and have populations of onverlapping generations of labor. Industrialization is modeled as the reallocation of labor to the sector with external increasing returns, the process of which is gradual due to a demographic constraint. In a perfect forseight equilibrium, countries with lower time preference industrialize, and autarky policy is not effective for industrialization. Orbits may exist for countries with positive time preference. (C) 1995 Academic Press, Inc.