Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
5062422 | Economics Letters | 2007 | 8 Pages |
Abstract
We derive a necessary and sufficient condition for the coexistence of nonbalanced constant growth paths (CGPs) for a small open economy and the rest of the world and put forth an International Growth Equalization Theorem: Competitive trade in goods equalizes growth across countries along their CGPs provided that they have the same cross-sector factor intensity difference.
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Yi Jin, Zhixiong Zeng,