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Conclusion and Further Research Prospects

In: The Impact of International Trade and FDI on Economic Growth and Technological Change

Author

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  • Patricia Hofmann

    (University of Hohenheim)

Abstract

The present dissertation stands in the middle of two megatrends of our time: globalisation and technological progress. The anxieties and hopes concerning both of these trends are observable all over the world: in developed countries as well as in developing countries, for people being rich or poor. However, these two phenomena are not new at all. Living in the time of the Napoleonic wars where in old England already the proponents and the antagonists of trade openness were debating pro and contra the ‘Corn Laws’, David Ricardo delivered the most well-known model of international trade that showed the unambiguous positive effects of trade and trade liberalisation. Furthermore, Ricardo was also concerned with the effects of technological progress. In Chapter 31 of his ‘Principles of Political Economy and Taxation’ (1817), he also tried to take up the cudgels on behalf of the introduction of the mechanical weaving loom, i.e. on behalf of technological process. Since this time economist all over the world tried to shed light in the interdependencies of international openness, technological progress and the wealth of nations.

Suggested Citation

  • Patricia Hofmann, 2013. "Conclusion and Further Research Prospects," Contributions to Economics, in: The Impact of International Trade and FDI on Economic Growth and Technological Change, edition 127, chapter 0, pages 257-267, Springer.
    • Handle: RePEc:spr:conchp:978-3-642-34581-4_8
    DOI: 10.1007/978-3-642-34581-4_8
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