Factor Accumulation and the Terms of Trade: Applications to the Asian Financial Crisis

Eun Choi and Hamid Beladi

Staff General Research Papers Archive from Iowa State University, Department of Economics

Abstract: This paper investigates the effects of population growth and capital accumulation on trade and welfare. In the absence of a terms of trade effect, an population increase reduces the standard of living and causes a reduction in welfare. An increase in population causes deterioration in the terms of trade of a labour abundant country, whereas capital accumulation improves them, regardless of the source of growth. Moreover, an increase in the Southï¾’s population is immiserizing.

Date: 2006-01-01
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Published in Pacific Economic Review 2006, vol. 11, pp. 383-94

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Journal Article: FACTOR ACCUMULATION AND THE TERMS OF TRADE: APPLICATIONS TO THE ASIAN FINANCIAL CRISIS (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:isu:genres:10391

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