FACTOR ACCUMULATION AND THE TERMS OF TRADE: APPLICATIONS TO THE ASIAN FINANCIAL CRISIS

E. Kwan Choi and Hamid Beladi

Pacific Economic Review, 2006, vol. 11, issue 3, 383-394

Abstract: Abstract. This paper investigates the effects of population growth and capital accumulation on trade and welfare. In the absence of a terms of trade effect, an population increase reduces the standard of living and causes a reduction in welfare. An increase in population causes deterioration in the terms of trade of a labour abundant country, whereas capital accumulation improves them, regardless of the source of growth. Moreover, an increase in the South's population is immiserizing.

Date: 2006
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https://doi.org/10.1111/j.1468-0106.2006.00322.x

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Working Paper: Factor Accumulation and the Terms of Trade: Applications to the Asian Financial Crisis (2006)
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