Trade and the Neoclassical Growth Model

• 영문명: Trade and the Neoclassical Growth Model
• 발행기관: 세종대학교 경제통합연구소
• 저자명: Dan Ben-David Michael B. Loewy
• 간행물 정보: 『Journal of Economic Integration』제18권 제1호, 1~16쪽, 전체 16쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2003.03.31

영문 초록

The model developed in this paper expands upon the traditional neoclassical exogenous growth model by facilitating a long-run growth analysis of the impact of openness to trade within a multi-country framework. Openness affects growth by impacting the extent of knowledge spillovers from abroad. This feature effectively converts the traditional closed-economy exogenous growth model into a multi-country, open-economy endogenous growth model. Nevertheless, the conditional convergence and identical growth predictions of the neoclassical model are preserved here with the extent of trade now playing a role in determining the relative heights of the countries` parallel output paths.

목차

Ⅰ. Introduction

Ⅱ. The Model

Ⅲ. Equilibrium

Ⅳ. Examples

Ⅴ. Conclusion

키워드

Growth Convergence Trade liberatization