Factor endowment, impatience and trade patterns in a small open economy of endogenous growth

Klaus Waelde
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Klaus Waelde: University of Kiel, Kiel, Germany
Authors registered in the RePEc Author Service: Klaus Wälde

International Trade from University Library of Munich, Germany

Abstract: The prediction of trade patterns is usually based on physical factor abundance. In a context of endogenous growth, however, physical factor richness does not always predict trade patterns in a reliable way. In a world where countries differ only in their factor endowment trade patterns can easily be such that a physically capital rich country exports the labour intensive good. Further, if the consumers' time preference rates are allowed to vary between countries, they influence trade patterns, too, which then do not reflect physical factor abundance for fairly general conditions.

JEL-codes: F1 F2 (search for similar items in EconPapers)
Pages: 19 pages
Date: 1994-03-25, Revised 1994-04-06
Note: 19 pages, single spaced, 3 figures, PostScript, replacement (now 11 inches length, same contents)
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