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Indeterminacy in a Dynamic General Equilibrium Model of International Trade

In: Human Capital, Trade and Public Policy in Rapidly Growing Economies

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  • Koji Shimomura

Abstract

Human Capital, Trade and Public Policy in Rapidly Growing Economies argues that only two centuries ago, no society had ever enjoyed sustained growth in living standards. The contributors to this book aim to discover why the world today exhibits a predilection for perpetual self-improvement. In particular, the book focuses on the forces underlying long-lasting growth in East Asia’s Newly Industrialized Countries (NICs). Drawing from the experiences of Hong Kong, South Korea, Singapore and Taiwan, it questions whether public policy can contribute to removing barriers towards accumulation of wealth, and if so, what development policy should be put in place to remedy the existing distortions or market failure problems.

Suggested Citation

  • Koji Shimomura, 2004. "Indeterminacy in a Dynamic General Equilibrium Model of International Trade," Chapters, in: Michele Boldrin & Been-Lon Chen & Ping Wang (ed.), Human Capital, Trade and Public Policy in Rapidly Growing Economies, chapter 7, pages 153-169, Edward Elgar Publishing.
  • Handle: RePEc:elg:eechap:3470_7
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