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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

Abstract: 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)
Date: 2013
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DOI: 10.1016/j.econmod.2013.02.023

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