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  • 标题:CAPITAL ACCUMULATION AND CONVERGENCE IN A SMALL OPEN ECONOMY
  • 本地全文:下载
  • 作者:SEN PARTHA
  • 期刊名称:INTERNATIONAL ECONOMICS STUDIES (RESEARCH BULLETIN OF ISFAHAN UNIVERSITY (HUMANITIES))
  • 印刷版ISSN:2008-9643
  • 出版年度:2011
  • 卷号:38
  • 期号:1
  • 页码:15-24
  • 语种:English
  • 出版社:UNIVERSITY OF ISFAHAN
  • 摘要:

    Outward-oriented economies seem to grow faster than inward-looking ones. Does the literature on convergence have anything to say on this? In the dynamic Heckscher-Ohlin-Samuelson model, with factor-price equalization, there is no convergence of incomes. This is because with identical preferences and return to capital, irrespective of initial levels the growth rates of consumption are the same. In the Specific Factors model, there is factor price equalization in the long run, but incomes depend on endowments of non-accumulable factors. Different specifications for the intersectorally mobile factors have different implications for development (as well as convergence).

  • 关键词:CONVERGENCE; HECKSCHER-OHLIN MODEL; SPECIFIC FACTORS MODEL; LAND; CAPITAL ACCUMULATION
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