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Common Market and Equilibrium Growth

  • Cheng-te Lee

    ()

    (Department of International Trade, Chinese Culture University, Taiwan)

  • Chen Fang

    ()

    (Department of International Trade, Takming University of Science and Technology, Taiwan)

  • Kuo-hsing Kuo

    ()

    (Department of International Trade, Chinese Culture University, Taiwan)

Registered author(s):

    We set up a two-sector equilibrium growth model with heterogeneous labor to analyze the impact of the creation of common market on the member countries' growth rate. We show that the economic integration will stimulate the backward country's economic growth. In addition, we prove that whether the economic integration can speed up the advanced country's economic growth or not depends on not only the average talent level of the backward country but also the size of the integrated-economy.

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    File URL: http://www.accessecon.com/Pubs/EB/2014/Volume34/EB-14-V34-I1-P46.pdf
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    Article provided by AccessEcon in its journal Economics Bulletin.

    Volume (Year): 34 (2014)
    Issue (Month): 1 ()
    Pages: 480-493

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    Handle: RePEc:ebl:ecbull:eb-13-00353
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    1. Takii, Katsuya & Tanaka, Ryuichi, 2009. "Does the diversity of human capital increase GDP? A comparison of education systems," Journal of Public Economics, Elsevier, vol. 93(7-8), pages 998-1007, August.
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    4. Cheng-Te Lee & Deng-Shing Huang, 2014. "Human Capital Distribution, Growth And Trade," Bulletin of Economic Research, Wiley Blackwell, vol. 66(1), pages 45-54, 01.
    5. Robert J. Barro, 1989. "Economic Growth in a Cross Section of Countries," NBER Working Papers 3120, National Bureau of Economic Research, Inc.
    6. Harald Badinger, 2008. "Technology- and investment-led growth effects of economic integration: a panel cointegration analysis for the EU-15 (1960-2000)," Applied Economics Letters, Taylor & Francis Journals, vol. 15(7), pages 557-561.
    7. Cheng-te Lee, 2009. "The Enlargement of an Integrated Economy and Growth," Economics Bulletin, AccessEcon, vol. 29(2), pages 1499-1509.
    8. Ethier, Wilfred J, 1982. "National and International Returns to Scale in the Modern Theory of International Trade," American Economic Review, American Economic Association, vol. 72(3), pages 389-405, June.
    9. repec:kap:iaecre:v:12:y:2006:i:4:p:435-448 is not listed on IDEAS
    10. Becker, Sascha O. & Egger, Peter & von Ehrlich, Maximilian, 2010. "Too much of a good thing? On the growth effects of the EU's regional policy," CEPR Discussion Papers 8043, C.E.P.R. Discussion Papers.
    11. Harald Badinger, 2005. "Growth Effects of Economic Integration: Evidence from the EU Member States," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 141(1), pages 50-78, April.
    12. Michael Kremer, 1993. "The O-Ring Theory of Economic Development," The Quarterly Journal of Economics, Oxford University Press, vol. 108(3), pages 551-575.
    13. Haveman, J.D. & Lei, V. & Netz, J.S., 1998. "International Integration and Growth: a Survey and Empirical Investigation," Papers 98-003, Purdue University, Krannert School of Management - Center for International Business Education and Research (CIBER).
    14. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
    15. Ethier, Wilfred, 1979. "Internationally decreasing costs and world trade," Journal of International Economics, Elsevier, vol. 9(1), pages 1-24, February.
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