Factor endowment, impatience and trade patterns in a small open economy of endogenous growth
AbstractThe prediction of trade patterns is usually based on physical factor abundance. In a context of endogenous growth, however, physical factor richness does not always predict trade patterns in a reliable way. In a world where countries differ only in their factor endowment trade patterns can easily be such that a physically capital rich country exports the labour intensive good. Further, if the consumers' time preference rates are allowed to vary between countries, they influence trade patterns, too, which then do not reflect physical factor abundance for fairly general conditions.
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Bibliographic InfoPaper provided by EconWPA in its series International Trade with number 9403004.
Length: 19 pages
Date of creation: 25 Mar 1994
Date of revision: 06 Apr 1994
Note: 19 pages, single spaced, 3 figures, PostScript, replacement (now 11 inches length, same contents)
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Find related papers by JEL classification:
- F1 - International Economics - - Trade
- F2 - International Economics - - International Factor Movements and International Business
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