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Global Economic Growth, Elastic Labor Supply, Knowledge Utilization And Creation With Learning-By-Doing

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  • Wei-Bin Zhang

    ()
    (Ritsumeikan Asia Pacific University Oita-ken, Japan)

Abstract

This paper studies issues related to global economic growth, trade patterns and elastic labor supply with capital accumulation and knowledge creation. Trade patterns among countries are determined by free competition and knowledge accumulation is through learning by doing. This study considers knowledge as public good. Knowledge is accessible to all the people in the world, even though different countries apply knowledge with different efficiencies. The countries differ in preference (such as propensities to save and to use leisure time), knowledge utilization efficiency and creativity. First, we show that the dynamics of the J -country world economy is described by   1  J differential equations. Then, we simulate the motion of the global economy with three economies, respectively called developed, industrializing, and underdeveloped economies. We carry out comparative dynamic analysis with regard to changes in knowledge utilization efficiency.

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Bibliographic Info

Article provided by Alexandru Ioan Cuza University, Faculty of Economics and Business Administration in its journal Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi.

Volume (Year): 58 (2011)
Issue (Month): (november)
Pages: 497-512

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Handle: RePEc:aic:journl:y:2011:v:58:p:497-512

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Postal: Universitatea Al. I. Cuza; B-dul Carol I nr. 22; Iasi
Phone: 004 0232 201070
Fax: 004 0232 217000
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Web page: http://anale.feaa.uaic.ro/anale/
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Related research

Keywords: Global Economic Growth; Trade Pattern; Elastic Labor Supply; Knowledge Utilization and Creation; Learning-by-Doing;

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References

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  1. Wei Bin Zhang, 2008. "A multi-region economic growth model with migration, housing and regional amenity," Analele Stiintifice ale Universitatii "Alexandru Ioan Cuza" din Iasi - Stiinte Economice, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, vol. 55, pages 322-350, November.
  2. Krugman, Paul & Venables, Anthony J., 1994. "Globalization and the Inequality of Nations," CEPR Discussion Papers 1015, C.E.P.R. Discussion Papers.
  3. Zhang, Wei-Bin, 1992. "Trade and world economic growth : Differences in knowledge utilization and creativity," Economics Letters, Elsevier, vol. 39(2), pages 199-206, June.
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  6. Philippe Martin & Gianmarco Ottaviano, 1996. "Growth and Agglomeration," Working Papers 1996-14, CEPII research center.
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  14. G. D. A. MacDougall, 1960. "THE BENEFITS and COSTS OF PRIVATE INVESTMENT FROM ABROAD: A THEORETICAL APPROACH," The Economic Record, The Economic Society of Australia, vol. 36(73), pages 13-35, 03.
  15. Gustafsson, Peter & Segerstrom, Paul, 2010. "North-South trade with increasing product variety," Journal of Development Economics, Elsevier, vol. 92(2), pages 97-106, July.
  16. Vellutini, Charles, 2003. "Capital mobility and underdevelopment traps," Journal of Development Economics, Elsevier, vol. 71(2), pages 435-462, August.
  17. Madsen, Jakob B., 2007. "Technology spillover through trade and TFP convergence: 135 years of evidence for the OECD countries," Journal of International Economics, Elsevier, vol. 72(2), pages 464-480, July.
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