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On the Growth Effects of Import Competition

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  • Richard E. Baldwin

Abstract

This paper shows that the market structure of an economy's research sector is an important determinant of the aggregate growth rate, even though it has hereto been ignored in the new growth literature. To make this point in a concrete context, a simple model is used to show that import competition may stimulate growth by reducing the market power of domestic innovators. Specifically, import competition forces domestic innovators to chose between either quickening their pace of innovation or being displaced by foreign innovators. The pro-growth effect of import competition is shown to be welfare-increasing. The paper studies a number of policy implications including the growth effects of anti-trust policy, partial liberalization and trade in intellectual property rights.

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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 4045.

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Date of creation: Apr 1992
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Handle: RePEc:nbr:nberwo:4045

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  1. Robert C. Feenstra, 1990. "Trade and Uneven Growth," NBER Working Papers 3276, National Bureau of Economic Research, Inc.
  2. Deardorff, Alan V, 1973. "The Gains from Trade in and out of Steady-state Growth," Oxford Economic Papers, Oxford University Press, vol. 25(2), pages 173-91, July.
  3. Baldwin, Richard E, 1992. "Measurable Dynamic Gains from Trade," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 100(1), pages 162-74, February.
  4. Smith, M A M, 1977. "Capital Accumulation in the Open Two-Sector Economy," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 87(346), pages 273-82, June.
  5. Grossman, G.M. & Helpman, E., 1989. "Quality Ledders In The Theory Of Growth," Papers, Princeton, Woodrow Wilson School - Public and International Affairs 148, Princeton, Woodrow Wilson School - Public and International Affairs.
  6. Findlay, Ronald, 1974. "Relative Prices, Growth and Trade in a Simple Ricardian System," Economica, London School of Economics and Political Science, London School of Economics and Political Science, vol. 41(161), pages 1-13, February.
  7. Shleifer, Andrei, 1986. "Implementation Cycles," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 94(6), pages 1163-90, December.
  8. Stiglitz, Joseph E, 1970. "Factor Price Equalization in a Dynamic Economy," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 78(3), pages 456-88, May-June.
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Cited by:
  1. Pistoresi, Barbara & Rinaldi, Alberto, 2012. "Exports, imports and growth," Explorations in Economic History, Elsevier, Elsevier, vol. 49(2), pages 241-254.
  2. Jones, L.E. & manuelli, R.E., 1994. "The Sources of Growth," Working papers, Wisconsin Madison - Social Systems 9428, Wisconsin Madison - Social Systems.
  3. Baldwin, Richard E. & Forslid, Rikard, 2000. "Trade liberalisation and endogenous growth: A q-theory approach," Journal of International Economics, Elsevier, Elsevier, vol. 50(2), pages 497-517, April.
  4. Hiemenz, Ulrich (Ed.) & Gundlach, Erich (Ed.), 1994. "Regional integration in Europe and its effects on developing countries," Open Access Publications from Kiel Institute for the World Economy, Kiel Institute for the World Economy (IfW) 794, Kiel Institute for the World Economy (IfW).
  5. Richard E. Baldwin & Elena Seghezza, 1996. "Trade-Induced Investment-led Growth," NBER Working Papers 5582, National Bureau of Economic Research, Inc.
  6. Fritz Breuss, 2000. "An Evaluation of the Economic Effects of Austria's EU Membership," Austrian Economic Quarterly, WIFO, vol. 5(4), pages 171-196, November.
  7. Ben-David, Dan & Loewy, Michael B, 1998. " Free Trade, Growth, and Convergence," Journal of Economic Growth, Springer, Springer, vol. 3(2), pages 143-70, June.
  8. Baldwin, Richard E. & Seghezza, Elena, 1996. "The New Growth Theory: Its Logic and Trade Policy Implications," 1996: Implications of the New Growth Theory to Agricultural Trade Research and Trade Policy Conference, December 1996, Washington DC, International Agricultural Trade Research Consortium 50862, International Agricultural Trade Research Consortium.
  9. Martin Neil Baily & Robert M. Solow, 2001. "International Productivity Comparisons Built from the Firm Level," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 15(3), pages 151-172, Summer.
  10. Robert Z. Lawrence & David E. Weinstein, 1999. "Trade and Growth: Import-Led or Export-Led? Evidence From Japan and Korea," NBER Working Papers 7264, National Bureau of Economic Research, Inc.

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