Baldwin, Richard E. (Graduate Institute of International Studies, Geneva) Martin, Philippe (Graduate Institute of International Studies, Geneva, and CERAS, Paris) Ottaviano, Gianmarco I.P. () (University of Bologna and Louvain-la-Neuve)
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This paper takes a step towards formalizing the theoretical interconnections among four post-Industrial Revolution phenomena - the industrialization and growth take-off of rich 'northern' nations, massive global income divergence, and rapid trade expansion. Specifically, we present a stages-of growth model in which the four phenomena are jointly endogenous and all are trigged by a gradual fall in the cost of doing business internationally. In the first stage, while trade costs are high, industry is dispersed and growth is low. In the second stage, the north industrializes rapidly, growth takes off and the south diverges. In the third stage, high growth becomes self sustaining. The model shows under which conditions, in a fourth stage, the south can quickly industrialize and converge.
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Paper provided by Research Institute of Industrial Economics in its series Working Paper Series with number
496.
Length: 45 pages Date of creation: 01 Feb 1998 Date of revision: Handle: RePEc:hhs:iuiwop:0496
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Find related papers by JEL classification: F01 - International Economics - - General - - - Global Outlook F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies N13 - Economic History - - Macroeconomics and Monetary Economics; Growth and Fluctuations - - - Europe: Pre-1913 O19 - Economic Development, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
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