Push or Pull? The relationship Between Development, Trade and Resource Endowment
AbstractWe 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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Bibliographic InfoPaper provided by The University of Melbourne in its series Department of Economics - Working Papers Series with number 653.
Length: 37 pages
Date of creation: 1998
Date of revision:
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Postal: Department of Economics, The University of Melbourne, 5th Floor, Economics and Commerce Building, Victoria, 3010, Australia
Phone: +61 3 8344 5289
Fax: +61 3 8344 6899
Web page: http://www.economics.unimelb.edu.au
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TRANSACTION COST; LABOUR MARKET;
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; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative
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