Neutrality of an increase in the price of natural resources to the level of technology
Asuka Oura and
Tadashi Morita ()
Economic Modelling, 2013, vol. 32, issue C, 347-350
In this paper, to investigate how an increase in the price of natural resources affects the level of technology, we develop an endogenous variety expansion model of a small open economy based on that of Grossman and Helpman (1991, Ch. 3). We conclude that an increase in the price of natural resources has a neutral effect on the level of technology in the long run.
Keywords: Natural resources; R&D; Economic growth (search for similar items in EconPapers)
JEL-codes: F43 O31 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:32:y:2013:i:c:p:347-350
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