Growth, resource allocation and welfare in an asymmetric general equilibrium model of trade

Dilip K. Ghosh and Augustine C. Arize

The Journal of Economic Asymmetries, 2018, vol. 18, issue C, -

Abstract: This work is an extension of the existing literature on growth of factors of production, output expansions and welfare of a nation involved in international trade. It used to be an accepted notion that growth augments welfare without a question until Jagdish Bhagwati, and later Harry Johnson provides the contrarian views on the issues under specified conditions. Here, in this paper, an attempt is made to generalize the 2 × 2 × 2 models of Bhagwati and Johnson on factor growth, resource allocation, and welfare to 2 × 4 × 2 model. The effects of growth on output changes and conditions for immiserizing growth are enunciated in this modified general equilibrium framework involving nontraded and intermediate goods. Here, it should be noted, the existing literature from 1944 to the very recent past has been surveyed and integrated into this work.

Date: 2018
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1703494918300549
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:joecas:v:18:y:2018:i:c:4

DOI: 10.1016/j.jeca.2018.e00107

Access Statistics for this article

The Journal of Economic Asymmetries is currently edited by A.G. Malliaris

More articles in The Journal of Economic Asymmetries from Elsevier
Bibliographic data for series maintained by Catherine Liu ().