Knowledge Dissemination, Capital Accumulation, Trade, and Endogenous Growth
AbstractThis paper preserves many of the primary features of the standard neoclassical framework while introducing some modifications that transform it into an open economy endogenous growth model with knowledge accumulation. The accumulation of knowledge is determined in part by the extent of knowledge spillovers from abroad, which in turn are affected by commercial policy that regulates the extent of trade between countries. The model predicts that trade liberalization (even if it is unilateral) will increase steady-state output growth in all countries while benefitting the liberalizing country the most in terms of relative income levels. Copyright 2000 by Oxford University Press.
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Bibliographic InfoArticle provided by Oxford University Press in its journal Oxford Economic Papers.
Volume (Year): 52 (2000)
Issue (Month): 4 (October)
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Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK
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Other versions of this item:
- Ben-David, D & Loewy, M-B, 1997. "Knowledge Dissemination, Capital Accumulation, Trade, and Endogenous Growth," Papers 3-97, Tel Aviv - the Sackler Institute of Economic Studies.
- Ben-David, Dan & Loewy, Michael B, 1996. "Knowledge Dissemination, Capital Accumulation, Trade and Endogenous Growth," CEPR Discussion Papers 1335, C.E.P.R. Discussion Papers.
- E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
- F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
- O42 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Monetary Growth Models
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