English, Article, Journal or magazine article edition: The international trade as the sole engine of growth for an economy Carmen D. Álvarez-Albelo; Antonio Manresa; Monica Pigem-Vigo

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Bookmark: http://trove.nla.gov.au/version/110703
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • The international trade as the sole engine of growth for an economy
Author
  • Carmen D. Álvarez-Albelo
  • Antonio Manresa
  • Monica Pigem-Vigo
Physical Description
  • preprint
Notes
  • Can international trade act as the sole engine of growth for an economy? If yes, what are the mechanisms through which trade operates in transmitting permanent growth? This paper answers these questions with two simple two-country models, in which only one country enjoys sustained growth in autarky. The models differ in the assumptions on technical change, which is either labour- or capital-augmenting. In both cases, the stagnant economy imports growth by trading. In the first model, growth is transmitted because of permanent increases in the trade volume. In the alternative framework, the stagnant economy imports sustained growth because its terms of trade permanently improve.
  • international trade; stagnant economies; growth transmission; mechanisms of transmission.
  • RePEc:xrp:wpaper:xreap2009-6
Language
  • English
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