On the output effects of barriers to trade
Ferreira, Pedro Cavalcanti; Trejos, Alberto
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Resumo
We study the macroeconomic effects of international trade policy by integrating a Hecksher-Ohlin trade model into an optimal-growth framework. The model predicts that a more open economy will have higher factor productivity. Furthermore, there is a 'selective development trap' to which countries may or may not converge, depending on policy. Income at the development trap falls as trade barriers increase. Hence, cross-country differences in barriers to trade may help explain the dispersion of per capita income observed across countries. The effects are quantified, and we show that protectionism can explain a relevant fraction of TFP and long-run income differentials across countries.
Ficha do documento
- Tipo
- Artigo científico
- Ano
- 2006
- Instituição
- Wiley-Blackwell
- Fonte
- Repositório da FGV
- Idioma
- Inglês
- Acesso
- Acesso restrito
- Identificador
- oai:repositorio.fgv.br:10438/23072
- Temas
- Economia
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