Industrialization, Economic Growth and International Trade
AbstractThis paper analyzes the relationship between economic growth, industrialization, and international trade in a two-sector endogenous growth model. With learning-by-doing, the economy grows perpetually along a balanced growth path, with manufacturing's relative price declining continuously. Under trade, its pattern of trade and growth will be affected by external growth. If it remains diversified under trade, its growth can keep in pace with the rest of the world. If the growth rate of the rest of the world is higher than a certain limit, the economy cannot catch up and will eventually produce agriculture only. Copyright 1999 by Blackwell Publishing Ltd.
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Bibliographic InfoPaper provided by Department of Economics at the University of Washington in its series Discussion Papers in Economics at the University of Washington with number 0077.
Date of creation: Feb 1998
Date of revision:
Other versions of this item:
- Wong, Kar-yiu & Yip, Chong K, 1999. "Industrialization, Economic Growth, and International Trade," Review of International Economics, Wiley Blackwell, vol. 7(3), pages 522-40, August.
- Kar-Yiu, Wong & Chong K. Yip, 1998. "Industrialization, Economic Growth, and International Trade," Departmental Working Papers _092, Chinese University of Hong Kong, Department of Economics.
- Kar-yiu Wong & Chong K. Yip, 1998. "Industrialization, Economic Growth and International Trade," Working Papers 0077, University of Washington, Department of Economics.
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- Christiaans, Thomas, 2008. "International trade and industrialization in a non-scale model of economic growth," Structural Change and Economic Dynamics, Elsevier, vol. 19(3), pages 221-236, September.
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