ECONOMIC GROWTH WITH TRADE IN FACTORS OF PRODUCTION

• 成果类型: Article
• 署名作者: Yenokyan, Karine; Seater, John J.; Arabshahi, Maryam
• 署名单位: Nazarbayev University; North Carolina State University
• 刊物名称: INTERNATIONAL ECONOMIC REVIEW
• ISSN/ISSBN: 0020-6598
• DOI: 10.1111/iere.12047
• 发表日期: 2014
• 页码: 223-254
• 关键词: dynamic comparative advantage; endogenous growth; development spillovers; transitional dynamics; 2-SECTOR MODEL; welfare

摘要

We study the world trading equilibrium in a Ricardian model, where factors of production are produced and traded. Even in the absence of technology transfer, international investment, research and development, and aggregate scale effects, trade affects economic growth through comparative advantage. Trade may raise the growth rate or leave it unchanged, depending on the patterns of comparative and absolute advantage. Trade in factors of production can effectively equalize technology even when technology transfer does not occur. Factor price equalization may hold, but the Stolper-Samuelson and Rybczynski theorems do not. The transition dynamics can be monotonic or oscillatory.