Multiple goods and growth

K. W. Liu

The Journal of International Trade & Economic Development, 1997, vol. 6, issue 3, 345-357

Abstract: Recent analyses often use one-good models to explain why the least developed countries have little income growth. While a one-good model permits only supply side considerations, a multiple-goods framework enables analysing income growth differences from both the supply and the demand sides. Introducing asymmetry in preference and technology in a two-goods model proves to be promising in simultaneously explaining the unfavourable income growth rates for some LDCs and high growth rates for industrializing countries.

Keywords: Human capital accumulation; multiple goods; income growth rates; growth convergence (search for similar items in EconPapers)
Date: 1997
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DOI: 10.1080/09638199700000020

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