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Open Economy Schumpeterian Growth

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Author Info

  • Raul Barreto

    (School of Economics, University of Adelaide, Australia)

  • Kaori Kobayashi

    (School of Economics, University of Adelaide, Australia)

Abstract

This paper examines the Aghion and Howitt [1992] “creative destruction” endogenous growth model in an open economy setting. We consider four alternative trade regimes. The first two regimes allow the monopoly producer of the intermediate good to attain worldwide monopoly rents. In the first of the two, the countries engage in trade of only the imperfectly produced intermediate good. In the second, the two countries trade in both the intermediate good as well as in ideas. The last two regimes consider two countries which are identical before and after trade opens such that pro-competitive gains from trade are achieved. We again consider when only intermediaries may be traded and thereafter when both intermediaries and ideas may be traded. We find that the effects of trade on growth and welfare depend critically on the assumptions one imposes.

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Bibliographic Info

Paper provided by University of Adelaide, Centre for International Economic Studies in its series Centre for International Economic Studies Working Papers with number 2003-17.

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Length: 50 pages
Date of creation: May 2003
Date of revision:
Handle: RePEc:adl:cieswp:2003-17

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Related research

Keywords: Creative Destruction; Obsolescence; Endogenous Growth; International Trade; Imperfect Competition; Schumpeterian Growth;

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  1. Luis A. Rivera-Batiz & Paul M. Romer, 1990. "Economic Integration and Endogenous Growth," NBER Working Papers 3528, National Bureau of Economic Research, Inc.
  2. Aghion, P. & Howitt, P., 1989. "A Model Of Growth Through Creative Destruction," UWO Department of Economics Working Papers 8904, University of Western Ontario, Department of Economics.
  3. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
  4. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth Through Creative Destruction," Scholarly Articles 12490578, Harvard University Department of Economics.
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