Globalization and the Human Development Trap

David Mayer-Foulkes

No RP2007-64, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: The feeble results of liberalization policies in Latin America are explained in terms of a multiple steady state model including a dynamic human development trap, endogenous technological change, technology transfer and trade. Divergent and convergent steady states, with and without a human development trap, exist under both autarchy and free trade. The model explains why import substitution is inferior to export promotion. While globalization is a necessary condition for convergence to development, it is not sufficient.

Keywords: Economic development; Globalization; Human capital; International trade; Technological innovations (search for similar items in EconPapers)
Date: 2007
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