Yochanan Shachmurove () (Department of Economics, City College of The City University of New York and The Department of Economics, University of Pennsylvania) Uriel Spiegel () (Department of Interdisciplinary Social Studies Bar Ilan University, and Department of Economics, University of Pennsylvania)
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As our trading world becomes more globalized, who benefits and who gets hurt? This paper relies on the Ricardian model to explore the effects of technological improvements in underdeveloped countries on the welfare of developed countries. For example, trading between the United States and China, which has undergone a technological improvement in commodities which China imports and exports, may lead to different welfare implications for both countries. The paper models several scenarios to indicate and demonstrate the arguments for and against globalization. The findings suggest that certain policies should be implemented to maintain and enhance the competitiveness of developed countries.
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Paper provided by Penn Institute for Economic Research, Department of Economics, University of Pennsylvania in its series PIER Working Paper Archive with number
09-015.
Find related papers by JEL classification: F0 - International Economics - - General F1 - International Economics - - Trade O - Economic Development, Technological Change, and Growth O1 - Economic Development, Technological Change, and Growth - - Economic Development O3 - Economic Development, Technological Change, and Growth - - Technological Change D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
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