A two-country dynamic model of international trade and endogenous growth: multiple balanced growth paths and stability

Junko Doi, Kazuo Nishimura and Koji Shimomura
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Junko Doi: Department of Economics, Kansai University, Japan

No 188, Discussion Paper Series from Research Institute for Economics & Business Administration, Kobe University

Abstract: We formulate a two-country endogenous growth model which explain joint determination of long-run trade patterns and world growth rates. After providing the existence and local stability of the continuum of balanced growth paths, we show that main standard trade propositions hold under some modifications and that, subject to certain conditions concerning social and private rankings of factory intensities between production sectors, the higher is the growth rate, the smaller is the volume of international trade among balanced growth paths in the continuum.

Pages: 39 pages
Date: 2006-04
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https://www.rieb.kobe-u.ac.jp/academic/ra/dp/English/dp188.pdf First version, 2006 (application/pdf)

Related works:
Journal Article: A two-country dynamic model of international trade and endogenous growth: Multiple balanced growth paths and stability (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:kob:dpaper:188

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