Push or Pull? The relationship Between Development, Trade and Resource Endowment

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Push or Pull? The relationship Between Development, Trade and Resource Endowment

Author Info

King, S.P.
Wen, M.

Abstract

We develop a model that combines both the transaction efficiency and primary resource explanations for specialization and development. Our model builds on the Yang (1990) framework but introduces a primary resource factor into this model. We show that neither a labour surplus nor the development of efficient trading institutions, by themselves, may be sufficient for the evolution of specialization. Rather, specialization and development is most likely to occur when there is a correct balance between these two factors. By combining the labour surplus 'push' theory of specialization with the transaction efficiency 'pull' theory, our model provides a more complete explanation of the pattern of development observed in a variety of countries.

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Paper provided by The University of Melbourne in its series Department of Economics - Working Papers Series with number 653.

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Length: 37 pages
Date of creation: 1998
Date of revision:
Handle: RePEc:mlb:wpaper:653

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Find related papers by JEL classification:
D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
O12 - Economic Development, Technological Change, and Growth - - Economic Development - - - Microeconomic Analyses of Economic Development
J10 - Labor and Demographic Economics - - Demographic Economics - - - General
N10 - Economic History - - Macroeconomics and Monetary Economics; Growth and Fluctuations - - - General, International, or Comparative

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