An Extension of the Structural Change Model to International Economic Relations
AbstractIn this paper Pasinetti's model of structural economic dynamics (1981) is extended to consider international economic relations. Conditions for full employment, full expenditure of income and equilibrium of the trade balance are established for an open economy that requires capital goods to produce final commodities. Analytical results concerning the benefits from free trade and international learning are formally studied. In addition, static and dynamic aspects of the 'principle of comparative cost advantage' are analysed considering the determinants of the specialization level. Copyright Blackwell Publishing Ltd 2003.
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Metroeconomica.
Volume (Year): 54 (2003)
Issue (Month): 4 (November)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0026-1386
Other versions of this item:
- Araujo, Ricardo Azevedo & Teixeira, Joanílio Rodolpho, 2003. "An Extension of the Structural Change Model to International Economic Relations," MPRA Paper 53291, University Library of Munich, Germany.
- F19 - International Economics - - Trade - - - Other
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Pasinetti, Luigi L, 1988. "Growing Subsystems, Vertically Hyper-integrated Sectors and the Labour Theory of Value," Cambridge Journal of Economics, Oxford University Press, vol. 12(1), pages 125-34, March.
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- Fabrício Misso & Ricardo Araújo Azevedo & Frederico Jayme Jr, 2013. "An extended structural economic dynamics approach to balance-of-payments constrained growth: level of the real exchange rate and endogenous elasticities," Textos para DiscussÃ£o Cedeplar-UFMG 499, Cedeplar, Universidade Federal de Minas Gerais.
- Araujo, Ricardo Azevedo & Teixeira, Joanílio Rodolpho, 2010.
"Investment Specific Technological Progress and Structural Change,"
46079, University Library of Munich, Germany.
- Ricardo Azevedo, Araujo & Joanilio Rodolpho, Teixeira, 2010. "Investment Specific Technological Progress and Structural Change," MPRA Paper 53672, University Library of Munich, Germany.
- Araujo, Ricardo Azevedo & Teixeira, Joanilio Rodolpho, 2010. "Structural Change and Macrodynamic Capabilities," MPRA Paper 30381, University Library of Munich, Germany.
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