Globalisation and Inequality in a Dynamic Economy: An Axiomatic Analysis of Unequal Exchange
Roberto Veneziani and
Naoki Yoshihara ()
No HIAS-E-49, Discussion paper series from Hitotsubashi Institute for Advanced Study, Hitotsubashi University
An axiomatic analysis of the concept of unequal exchange (UE) between countries is developed in a dynamic general equilibrium model that generalises Roemer’s  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: D63 F02 B51 (search for similar items in EconPapers)
Pages: 32, 6 p.
New Economics Papers: this item is included in nep-hme and nep-int
References: Add references at CitEc
Citations: View citations in EconPapers (12) Track citations by RSS feed
Downloads: (external link)
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)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:hit:hiasdp:hias-e-49
Access Statistics for this paper
More papers in Discussion paper series from Hitotsubashi Institute for Advanced Study, Hitotsubashi University Contact information at EDIRC.
Bibliographic data for series maintained by Digital Resources Section, Hitotsubashi University Library ().