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Industrialization, Economic Growth, and International Trade

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  • Kar-Yiu, Wong
  • Chong K. Yip

Abstract

This paper analyzes the relationship between economic growth, industrialization, and international trade in a two-sector endogenous growth model. With learning-by-doing, the economy grows perpetually along a balanced growth path, with manufacturing's relative price declining continuously. Under trade, its pattern of trade and growth will be affected by external growth. If it remains diversified under trade, its growth can keep in pace with the rest of the world. If the growth rate of the rest of the world is higher than a certain limit, the economy cannot catch up and will eventually produce agriculture only. Copyright 1999 by Blackwell Publishing Ltd.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Kar-Yiu, Wong & Chong K. Yip, 1998. "Industrialization, Economic Growth, and International Trade," Departmental Working Papers _092, Chinese University of Hong Kong, Department of Economics.
  • Handle: RePEc:chk:cuhked:_092
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    References listed on IDEAS

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    1. Nelson, Daniel B., 1995. "Vector attenuation bias in the classical errors-in-variables model," Economics Letters, Elsevier, vol. 49(4), pages 345-349, October.
    2. Tai-leung, Chong, 1996. "Estimating the Unit Root Process in the Presence of Measurement Errors," Departmental Working Papers _067, Chinese University of Hong Kong, Department of Economics.
    3. Baillie, Richard T., 1996. "Long memory processes and fractional integration in econometrics," Journal of Econometrics, Elsevier, vol. 73(1), pages 5-59, July.
    4. Levi, Maurice D, 1973. "Errors in the Variables Bias in the Presence of Correctly Measured Variables," Econometrica, Econometric Society, vol. 41(5), pages 985-986, September.
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    Cited by:

    1. Hiroaki Sasaki, 2013. "Positive and Negative Population Growth and Long-Run Trade Patterns: A Non-Scale Growth Model," Discussion papers e-13-004, Graduate School of Economics Project Center, Kyoto University.
    2. Christiaans, Thomas, 2008. "International trade and industrialization in a non-scale model of economic growth," Structural Change and Economic Dynamics, Elsevier, vol. 19(3), pages 221-236, September.
    3. repec:eee:streco:v:41:y:2017:i:c:p:1-12 is not listed on IDEAS
    4. Kamei, Keita & Sasaki, Hiroaki, 2014. "Is Agricultural Productivity Growth Good for Industrialization? Infrastructures and the Welfare Maximizing Tax Rate," MPRA Paper 53606, University Library of Munich, Germany.

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