Technical Improvements and Welfare under International Duopoly
It is now common wisdom that a free-trading country with perfectly competitive markets might be hurt by its own technical improvement of that country's export industry, and that an improvement in the import-competing industry never impoverishes the country if no commodity is inferior for that country. This paper examines the welfare effects of technical progress in a perfectly competitive industry and in an internationally duopolistic market in a two-country, two-good, one-factor trading model. It will be shown that the above propositions are severely qualified in our setting with duopolistic industry. Copyright � 2009 The Author. Journal compilation � 2009 Blackwell Publishing Ltd.
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Volume (Year): 17 (2009)
Issue (Month): 5 (November)
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