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International Trade And Industrialization With Capital Accumulation And Skill Acquisition

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  • HIROAKI SASAKI

Abstract

In this paper we develop a small open economy three‐sector model of semi‐endogenous growth that consists of an agricultural sector, a manufacturing sector and a skill‐producing sector, and we analyze the relationship between specialization processes and economic growth. The main results are as follows: (i) for the sustainability of complete specialization in manufacturing, the growth rate of the population at home must exceed that in the ROW; (ii) it is possible that an economy that is scarce in both capital stock and skills industrializes by delaying the time when it switches from autarky to free trade; and (iii) under free trade, an economy that is abundant in capital stock (skills) but scarce in skills (capital stock) is likely to asymptotically specialize in agriculture.

Suggested Citation

  • Hiroaki Sasaki, 2008. "International Trade And Industrialization With Capital Accumulation And Skill Acquisition," Manchester School, University of Manchester, vol. 76(4), pages 464-486, July.
    • Handle: RePEc:bla:manchs:v:76:y:2008:i:4:p:464-486
    DOI: 10.1111/j.1467-9957.2008.01070.x
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    References listed on IDEAS

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    1. Thomas Christiaans, 2003. "Non-Scale Growth, Endogenous Comparative Advantages, and Industrialization," Volkswirtschaftliche Diskussionsbeiträge 113-03, Universität Siegen, Fakultät Wirtschaftswissenschaften, Wirtschaftsinformatik und Wirtschaftsrecht.
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    Cited by:

    1. Hiroaki Sasaki, 2008. "North-South Asymmetry in Returns to Scale, Uneven Development, and the Population Puzzle," TERG Discussion Papers 238, Graduate School of Economics and Management, Tohoku University.
    2. Sasaki, Hiroaki, 2015. "International Trade And Industrialization With Negative Population Growth," Macroeconomic Dynamics, Cambridge University Press, vol. 19(8), pages 1647-1658, December.
    3. Sasaki, Hiroaki & Fukatani, Noriki & Imai, Daisuke & Kamanaka, Yusuke, 2022. "Sustainable Economic Growth in an Economy with Exhaustible Resources and a Declining Population under the Balance-of-Payments Constraint," MPRA Paper 113559, University Library of Munich, Germany.
    4. Kamei, Keita & Sasaki, Hiroaki, 2014. "Is Agricultural Productivity Growth Good for Industrialization? Infrastructures and the Welfare Maximizing Tax Rate," MPRA Paper 53606, University Library of Munich, Germany.
    5. Keita Kamei & Hiroaki Sasaki, 2016. "Agricultural Productivity, Infrastructures and the Optimal Timing of Opening Trade," Manchester School, University of Manchester, vol. 84(5), pages 621-641, September.

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