Dynamics of General Purpose Technologies in an Open Economy
AbstractWhile the Helpman-Trajtenberg model is successful in explaining the macroeconomic cycle generated by GPT in the context of a closed economy, open-economy implications regarding GPT have received scant attention. We seek to fill such void in the previous literature by developing a dynamic North-South trade model with GPT. Our major findings are : 1) the introduction of GPT causes a product cycle from the North to the South followed by a reverse product cycle from the South to the North; 2) the presence of trading partner can cushion the macroeconomic shock experienced by the North.
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Bibliographic InfoArticle provided by Hitotsubashi University in its journal Hitotsubashi Journal of Economics.
Volume (Year): 50 (2009)
Issue (Month): 2 (December)
Open Economy; General Purpose Technologies; Trade Pattern; Real GDP Growth;
Find related papers by JEL classification:
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
- O30 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - General
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