Add to ORKGHow does factor accumulation a¤ect an open economys pattern of international special-ization and returns to capital? We provide a new integrated treatment to this question using a panel of 44 developing and developed countries over the period 1976-2000. The data con\u85rm the Heckscher-Ohlin prediction that, with su ¢ cient di¤erences in country endowments, there is no factor price equalization and countries specialize in di¤erent sub-sets of goods. Innovatively, we obtain the returns to capital implied by this model: these are consistent with the Lucas paradox, which we explain after accounting for cross-country di¤erences in the cost of capital goods. Our \u85ndings are also consistent with Venturas hypothesis that the growth of small ope...
Why doesn't capital flow to developing countries as predicted by the neoclassical model? What are th...
The textbook neoclassical growth model predicts that countries with faster productivity growth shoul...
This thesis presents new facts on the aggregate return to capital and shows their implications for u...
The Heckscher-Ohlin-Vanek (HOV) model allows us to analyze whether countries specialize in particula...
We show that even in the absence of diminishing returns in production and technological spillovers, ...
We show that even in the absence of diminishing returns in production and technological spillovers, ...
Over the last decades, large labor intensive countries, like China, have played a growing role in wo...
A core prediction of the Heckscher-Ohlin theory is that countries specialize in goods in which they ...
This paper investigates how a country's specific-factors endowment affects its long-run economic per...
Why does capital not flow to developing countries as predicted by the neoclassical model? What are t...
One of the striking features of the international economy is that while the level of average wage ra...
This paper attempts to integrate the theory of trade with that of capital movements, and to study th...
International audienceWe combine in a unified model the Ramsey exogenous and the Rebelo endogenous g...
Standard economic theory suggests that capital should flow from rich countries to poor countries. Ho...
Chapter one investigates the importance of large foreign markets in export-led development strategie...
Why doesn't capital flow to developing countries as predicted by the neoclassical model? What are th...
The textbook neoclassical growth model predicts that countries with faster productivity growth shoul...
This thesis presents new facts on the aggregate return to capital and shows their implications for u...
The Heckscher-Ohlin-Vanek (HOV) model allows us to analyze whether countries specialize in particula...
We show that even in the absence of diminishing returns in production and technological spillovers, ...
We show that even in the absence of diminishing returns in production and technological spillovers, ...
Over the last decades, large labor intensive countries, like China, have played a growing role in wo...
A core prediction of the Heckscher-Ohlin theory is that countries specialize in goods in which they ...
This paper investigates how a country's specific-factors endowment affects its long-run economic per...
Why does capital not flow to developing countries as predicted by the neoclassical model? What are t...
One of the striking features of the international economy is that while the level of average wage ra...
This paper attempts to integrate the theory of trade with that of capital movements, and to study th...
International audienceWe combine in a unified model the Ramsey exogenous and the Rebelo endogenous g...
Standard economic theory suggests that capital should flow from rich countries to poor countries. Ho...
Chapter one investigates the importance of large foreign markets in export-led development strategie...
Why doesn't capital flow to developing countries as predicted by the neoclassical model? What are th...
The textbook neoclassical growth model predicts that countries with faster productivity growth shoul...
This thesis presents new facts on the aggregate return to capital and shows their implications for u...