Globalisation and Inequality in a Dynamic Economy: An Axiomatic Analysis of Unequal Exchange

Roberto Veneziani, Naoki Yoshihara () and 直毅 吉原

No HIAS-E-49, Discussion paper series from Hitotsubashi Institute for Advanced Study, Hitotsubashi University

Abstract: An axiomatic analysis of the concept of unequal exchange (UE) between countries is developed in a dynamic general equilibrium model that generalises Roemer’s [22] economy with a global capital market. The class of UE definitions that satisfy three fundamental properties - including a correspondence between wealth, class and UE exploitation status - is completely characterised. It is shown that this class is nonempty and a definition of UE exploitation between countries is proposed, which is theoretically robust and firmly anchored to empirically observable data. The full class and UE exploitation structure of the international economy is derived in equilibrium.

Keywords: Exploitation; classes; unequal exchange; international economy (search for similar items in EconPapers)
JEL-codes: B51 D63 F02 (search for similar items in EconPapers)
Pages: 32 pages
Date: 2017-02
New Economics Papers: this item is included in nep-hme and nep-int
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Citations: View citations in EconPapers (17)

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https://hermes-ir.lib.hit-u.ac.jp/hermes/ir/re/28677/070_hiasDP-E-49.pdf

Related works:
Journal Article: Globalisation and inequality in a dynamic economy: an axiomatic analysis of unequal exchange (2017)
Working Paper: Globalisation and Inequality in a Dynamic Economy: An Axiomatic Analysis of Unequal Exchange (2017)
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Persistent link: https://EconPapers.repec.org/RePEc:hit:hiasdp:hias-e-49

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