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Trade dynamics and endogenous growth: an overlapping generations analysis

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  • Mountford, A.

Abstract

This paper examines the dynamic implications of international trade in a two-sector overlapping-generations economy with endogenous growth. It analyzes the global dynamics of this model for both a closed economy and a two-country world economy. It shows how international trade can cause the world economy to sort itself out into groups of fast and slow-growing economies and can also cause one country to catch up and overtake another's growth rate. It, thus, provides theoretical support for empirical papers that find that the world distribution of income is diverging. Copyright 1999 by The London School of Economics and Political Science

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Bibliographic Info

Paper provided by Economics Division, School of Social Sciences, University of Southampton in its series Discussion Paper Series In Economics And Econometrics with number 9621.

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Date of creation: 01 Jan 1996
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Handle: RePEc:stn:sotoec:9621

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  1. J. Bradford De Long & Lawrence H. Summers, 1990. "Equipment Investment and Economic Growth," NBER Working Papers 3515, National Bureau of Economic Research, Inc.
  2. Quah, Danny T., 1996. "Regional convergence clusters across Europe," European Economic Review, Elsevier, Elsevier, vol. 40(3-5), pages 951-958, April.
  3. Elise Brezis & Paul Krugman & Daniel Tsiddon, 1991. "Leapfrogging: A Theory of Cycles in National Technological Leadership," NBER Working Papers 3886, National Bureau of Economic Research, Inc.
  4. Dellas, Harris & de Vries, Casper G, 1995. "Piecemeal versus Precipitous Factor Market Integration," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 36(3), pages 569-82, August.
  5. Quah, Danny, 1996. "Regional Convergence Clusters Across Europe," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1286, C.E.P.R. Discussion Papers.
  6. Easterly, William, 1994. "Economic stagnation, fixed factors, and policy thresholds," Journal of Monetary Economics, Elsevier, Elsevier, vol. 33(3), pages 525-557, June.
  7. Galor, O. & Tsiddon, D., 1996. "The Distribution of Human Capital and Economic Growth," Papers, Tel Aviv - the Sackler Institute of Economic Studies 18-96, Tel Aviv - the Sackler Institute of Economic Studies.
  8. Quah, Danny, 1997. "Empirics for Growth and Distribution: Stratification, Polarization, and Convergence Clubs," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1586, C.E.P.R. Discussion Papers.
  9. Azariadis, Costas, 1996. " The Economics of Poverty Traps: Part One: Complete Markets," Journal of Economic Growth, Springer, Springer, vol. 1(4), pages 449-96, December.
  10. Galor, Oded, 1996. "Convergence? Inferences from Theoretical Models," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1350, C.E.P.R. Discussion Papers.
  11. Galor, Oded, 1992. "A Two-Sector Overlapping-Generations Model: A Global Characterization of the Dynamical System," Econometrica, Econometric Society, Econometric Society, vol. 60(6), pages 1351-86, November.
  12. Sala-i-Martin, Xavier, 1994. "Regional Cohesion: Evidence and Theories of Regional Growth and Convergence," CEPR Discussion Papers, C.E.P.R. Discussion Papers 1075, C.E.P.R. Discussion Papers.
  13. Galor, Oded & Ryder, Harl E., 1989. "Existence, uniqueness, and stability of equilibrium in an overlapping-generations model with productive capital," Journal of Economic Theory, Elsevier, Elsevier, vol. 49(2), pages 360-375, December.
  14. 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.
  15. Mountford, Andrew, 1997. "Can a brain drain be good for growth in the source economy?," Journal of Development Economics, Elsevier, Elsevier, vol. 53(2), pages 287-303, August.
  16. Perotti, Roberto, 1993. "Political Equilibrium, Income Distribution, and Growth," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 60(4), pages 755-76, October.
  17. Quah, Danny T, 1996. " Convergence Empirics across Economies with (Some) Capital Mobility," Journal of Economic Growth, Springer, Springer, vol. 1(1), pages 95-124, March.
  18. Costas Megir & Danny Quah, 1996. "Regional Convergence Clusters Across Europe," CEP Discussion Papers, Centre for Economic Performance, LSE dp0274, Centre for Economic Performance, LSE.
  19. Ben-David, Dan & Papell, David H., 1995. "The great wars, the great crash, and steady state growth: Some new evidence about an old stylized fact," Journal of Monetary Economics, Elsevier, Elsevier, vol. 36(3), pages 453-475, December.
  20. Quah, Danny T, 1997. " Empirics for Growth and Distribution: Stratification, Polarization, and Convergence Clubs," Journal of Economic Growth, Springer, Springer, vol. 2(1), pages 27-59, March.
  21. Galor, Oded & Tsiddon, Daniel, 1996. "Income Distribution and Growth: The Kuznets Hypothesis Revisited," Economica, London School of Economics and Political Science, London School of Economics and Political Science, vol. 63(250), pages S103-17, Suppl..
  22. Alwyn Young, 1998. "Growth without Scale Effects," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 106(1), pages 41-63, February.
  23. Mountford, Andrew, 1998. "Trade, convergence and overtaking," Journal of International Economics, Elsevier, Elsevier, vol. 46(1), pages 167-182, October.
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Cited by:
  1. Yoshiyasu Ono & Akihisa Shibata, 2006. "Capital Income Taxation and Specialization Patterns: Investment Tax vs. Saving Tax," KIER Working Papers, Kyoto University, Institute of Economic Research 613, Kyoto University, Institute of Economic Research.
  2. Claustre Bajona & Timothy J. Kehoe, 2006. "Demographics in dynamic Heckscher-Ohlin models: overlapping generations versus infinitely lived consumers," Staff Report, Federal Reserve Bank of Minneapolis 377, Federal Reserve Bank of Minneapolis.
  3. Takumi Naito & Ryoji Ohdoi, 2011. "A two-country model of trade and growth with intersectoral knowledge spillovers," Journal of Economics, Springer, Springer, vol. 103(1), pages 39-58, May.
  4. Takumi Naito, 2013. "Aid for trade, infrastructure, and growth," International Tax and Public Finance, Springer, Springer, vol. 20(6), pages 886-909, December.

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