Common Market and Equilibrium Growth

Cheng-te Lee (), Chen Fang () and Kuo-hsing Kuo ()
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Cheng-te Lee: Department of International Trade, Chinese Culture University, Taiwan
Chen Fang: Department of International Trade, Takming University of Science and Technology, Taiwan
Kuo-hsing Kuo: Department of International Trade, Chinese Culture University, Taiwan

Economics Bulletin, 2014, vol. 34, issue 1, 480-493

Abstract: We set up a two-sector equilibrium growth model with heterogeneous labor to analyze the impact of the creation of common market on the member countries' growth rate. We show that the economic integration will stimulate the backward country's economic growth. In addition, we prove that whether the economic integration can speed up the advanced country's economic growth or not depends on not only the average talent level of the backward country but also the size of the integrated-economy.

Keywords: diversity; talent distribution; common market; equilibrium growth (search for similar items in EconPapers)
JEL-codes: F0 (search for similar items in EconPapers)
Date: 2014-03-06
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