¿Compiten las naciones?: Dos enfoques

Javier Iguiñiz ()

No 1998-144, Documentos de Trabajo / Working Papers from Departamento de Economía - Pontificia Universidad Católica del Perú

Abstract: We first use the Scottish debate to show a non-Ricardian way of approaching the problem of inter-national economic relations distinguishing between the effects of an once-and-for-all opening of previously closed markets and a long-term process of interaction including technical change, relative wage movements, capital movements, etc. Then we concentrate in the relatively narrow Ricardian problem and its consequences. The framework is the simplest possible two-goods economy since exchange rate variations, relative wages, tradable and non-tradable and other important variables are put aside in order to concentrate in the effect of assuming different theories of the money and its effects. Summarizing the well-known recent expressions of Krugman in this respect and the less wellknown approach of Shaikh, we conclude that specialization and mutual benefit is not the necessary consequence of the opening of markets. Widening divergence can happen with no requirement of assumptions as increasing returns.

Pages: 29 pages
Date: 1998
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