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Trade and Trade Policy in Endogenous Growth Models

In: International Trade Policy and the Pacific Rim

Author

Listed:
  • M. Scott Taylor

    (University of British Columbia)

  • Neil Vousden

    (Australian National University)

Abstract

Since the late 1980s, trade theorists have been aware that trading opportunities and trade policy can have important, and lasting, effects on a nation’s rate of economic growth. Conversely, since the time of Edgeworth, Mill and Ricardo trade economists have been studying the consequences of ongoing improvements in technology and growth of factor endowments for trading opportunities and trade policy. I follow this division of labour by specializing this review in a similar, and, I hope, complementary manner. The first goal of this chapter is to synthesize the major theoretical results from the new growth theory linking international trade and trade policy to permanent and lasting effects on growth rates. The second goal is to study how the consequences of ongoing endogenous growth may affect the incentives governments have to restrict trade at a point in time, and how endogenous growth can shape and limit the form of self-enforcing trade liberalizations that are supportable over time.

Suggested Citation

  • M. Scott Taylor & Neil Vousden, 1999. "Trade and Trade Policy in Endogenous Growth Models," International Economic Association Series, in: John Piggott & Alan Woodland (ed.), International Trade Policy and the Pacific Rim, chapter 15, pages 321-347, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-14543-0_15
    DOI: 10.1007/978-1-349-14543-0_15
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    Cited by:

    1. Kym Anderson, 2005. "On the Virtues of Multilateral Trade Negotiations," The Economic Record, The Economic Society of Australia, vol. 81(255), pages 414-438, December.
    2. Kym Anderson, 2004. "The challenge of Reducing Subsidies and Trade Barriers," Centre for International Economic Studies Working Papers 2004-12, University of Adelaide, Centre for International Economic Studies.
    3. Lloyd, P. J. & MacLaren, Donald, 2000. "Openness and growth in East Asia after the Asian crisis," Journal of Asian Economics, Elsevier, vol. 11(1), pages 89-105.
    4. Aslan, Alper & Kaplan, Muhittin, 2008. "Gumruk Birligi’Nin Firma Verimlilik Yakinsamasina Etkisi [The impact of customs union on firm productivity convergence]," MPRA Paper 10597, University Library of Munich, Germany.
    5. Fadi Fawaz & Anis Mnif & Ani Popiashvili, 2021. "Impact of governance on economic growth in developing countries: a case of HIDC vs. LIDC," Journal of Social and Economic Development, Springer;Institute for Social and Economic Change, vol. 23(1), pages 44-58, June.

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