"Endognous Growth and
International Trade: A Survey"
in Dynamics, Economic Growth, and International Trade, edited by Bjarne S. Jensen and Kar-yiu Wong, Ann Arbor: University of Michigan Press, 1997.
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The survey can be divided into two major parts. The first part covers the theory of endogenous growth for closed economies. Using a unified framework, which reduces to several models of endogenous growth in special cases, it discusses several important factors of growth that have been proposed in the literature. It emphasizes the major features of each theory and how it is different from the neoclassical theory of growth. Growth due to human capital accumulation or R&D activities has been thoroughly discussed.
While the majority of the previous work
on endogenous growth focuses exclusively on closed
economies, there has been work and growing interest on
the growth of open economies that are linked to each
other through movement of goods, factors, and/or
knowledge. The second part of the survey covers the major
work in the literature on growth and trade. Some of the
models are direct extension of those for closed
economies, but some are new ones. It is shown that trade
does have important impacts on growth, and with open
economies many new issues arise. However, generally many
of the results are quite sensitive to the models used.
The survey also covers recent work on economic growth and
international factor mobility, with special attention to
why international factor movement may or may not affect
the convergence of the growth rates of economies.
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