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Convergence, Divergence and Changing Trade Patterns
Klaus Walde
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Description for Convergence, Divergence and Changing Trade Patterns
Paperback. This study constitutes a theoretical inquiry into the reasons for convergence, divergence and, in a trade-theoretic perspective, for a reversal of trade patterns. It describes various mechanisms determining factor rewards and the change of trade patterns of growing economies. Series: International economics & institutions. Num Pages: 149 pages, 1 black & white illustrations, biography. BIC Classification: KCB; KCJ; KCLT. Category: (P) Professional & Vocational; (UP) Postgraduate, Research & Scholarly. Dimension: 254 x 178 x 8. Weight in Grams: 323.
1. Introduction and overview Until still few years ago, economic growth theory (going back to Solow, 1956; for an introduction cf. Burmeister and Dobell, 1970) predicted convergence of both growth rates and level of per capita income of economies which share identical preferences, technologies and same population growth rates, independently of initial conditions. Countries with a low capital stock grow faster than those with a higher capital stock, until, in the long-run, they all converge to a common constant growth rate. This prediction is due to the way how growth is "explained" in models of this kind. Growth of output ... Read more
1. Introduction and overview Until still few years ago, economic growth theory (going back to Solow, 1956; for an introduction cf. Burmeister and Dobell, 1970) predicted convergence of both growth rates and level of per capita income of economies which share identical preferences, technologies and same population growth rates, independently of initial conditions. Countries with a low capital stock grow faster than those with a higher capital stock, until, in the long-run, they all converge to a common constant growth rate. This prediction is due to the way how growth is "explained" in models of this kind. Growth of output ... Read more
Product Details
Format
Paperback
Publication date
1995
Publisher
Springer-Verlag Berlin and Heidelberg GmbH & Co. KG Germany
Number of pages
149
Condition
New
Series
International economics & institutions
Number of Pages
149
Place of Publication
Heidelberg, Germany
ISBN
9783790808780
SKU
V9783790808780
Shipping Time
Usually ships in 15 to 20 working days
Ref
99-15
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