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Multiple goods and growth

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  • K. W. Liu

Abstract

Recent analyses often use one-good models to explain why the least developed countries have little income growth. While a one-good model permits only supply side considerations, a multiple-goods framework enables analysing income growth differences from both the supply and the demand sides. Introducing asymmetry in preference and technology in a two-goods model proves to be promising in simultaneously explaining the unfavourable income growth rates for some LDCs and high growth rates for industrializing countries.

Suggested Citation

  • K. W. Liu, 1997. "Multiple goods and growth," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 6(3), pages 345-357.
    • Handle: RePEc:taf:jitecd:v:6:y:1997:i:3:p:345-357
    DOI: 10.1080/09638199700000020
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