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Convergence and International Factor Flows in Theory and History

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  • Alan M. Taylor

Abstract

Standard neoclassical growth models rarely admits international factor mobility: convergence may result from factor accumulation in a closed economy, or from technology transfer. Conventional models are thus poorly equipped to explain the contribution of international factor flows to convergence in history. A general model with many goods, and multiple mobile and fixed factors is developed. In response to recent historical research, a four-factor case is studied, with labor, capital, and resources as potentially mobile factors, and land fixed. The model is then explored in the context of recent historical analyses of the sources of long-run convergence and divergence.

Suggested Citation

  • Alan M. Taylor, 1996. "Convergence and International Factor Flows in Theory and History," NBER Working Papers 5798, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:5798
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    References listed on IDEAS

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    1. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    2. Trevor W. Swan, 2002. "Economic Growth," The Economic Record, The Economic Society of Australia, vol. 78(243), pages 375-380, December.
    3. Alan M. Taylor, 1996. "International Capital Mobility in History: The Saving-Investment Relationship," NBER Working Papers 5743, National Bureau of Economic Research, Inc.
    4. Swan, Trevor W, 2002. "Economic Growth," The Economic Record, The Economic Society of Australia, vol. 78(243), pages 375-380, December.
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    Cited by:

    1. van de Klundert, T.C.M.J. & Smulders, J.A., 1998. "Capital Mobility and Catching Up in a Two-Country, Two-Sector Model of Endogenous Growth," Discussion Paper 1998-13, Tilburg University, Center for Economic Research.
    2. Taylor, Alan M., 1999. "Sources of convergence in the late nineteenth century," European Economic Review, Elsevier, vol. 43(9), pages 1621-1645, October.
    3. van de Klundert, T.C.M.J. & Smulders, J.A., 1998. "Capital Mobility and Catching Up in a Two-Country, Two-Sector Model of Endogenous Growth," Other publications TiSEM 0e9f0df7-c07e-449f-bda8-0, Tilburg University, School of Economics and Management.
    4. HISATAKE Masato, 2005. "Japan's Past, Present and Future in East Asia: Thoughts from the Perspective of the Transformation of Urban Agglomerations (Japanese)," Policy Discussion Papers (Japanese) 05003, Research Institute of Economy, Trade and Industry (RIETI).
    5. van de Klundert, Theo & Smulders, Sjak, 2001. "Loss of technological leadership of rentier economies: a two-country endogenous growth model," Journal of International Economics, Elsevier, vol. 54(1), pages 211-231, June.
    6. Greasley, David & Oxley, Les, 1998. "Comparing British and American Economic and Industrial Performance 1860-1993: A Time Series Perspective," Explorations in Economic History, Elsevier, vol. 35(2), pages 171-195, April.
    7. Edem Kwame Mensah Klobodu & Samuel Adams, 2016. "Capital Flows and Economic Growth in Ghana," Journal of African Business, Taylor & Francis Journals, vol. 17(3), pages 291-307, September.
    8. Sukkoo Kim, 1997. "Economic Integration and Convergence: U.S. Regions, 1840-1987," NBER Working Papers 6335, National Bureau of Economic Research, Inc.

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    More about this item

    JEL classification:

    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative

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