This paper shows that income convergence in an open-economy setting hinges upon how the time-discount rate of the households is determined. As opposed to the case of constant time-discount rate where cross-country income divergence may emerge, the small-open economy may catch up with the rest of...

This paper constructs a dynamic two-country model with country-specific production externalities and inspects the presence of equilibrium indeterminacy under alternative trade structures. It is shown that the presence of belief?driven economic fluctuations caused by equilibrium indeterminacy is...

Se desarrolla un modelo de crecimiento endogeno con dos sectores: comerciable y no-comerciable. El sector comerciable es la fuente del conocimiento tecnologico. Los Hogares tienen una restriccion al credito, asi el capital comerciable sirve unicamente como colateral para los prestamos...

Se resume la evidencia de la relacion entre flujos financieros y crecimiento economico. Se presentan los principales resultados teoricos de un modelo de crecimiento endogeno con dos bienes, comerciable (manufacturero) y no-comerciable (no-manufacturero). Se muestra que una liberalizacion...

Se desarrolla un modelo de crecimiento endógeno con dos sectores: comerciable (manu-facturero) y no comerciable (no manufacturero). El conocimiento tecnológico es produ¬cido únicamente en el sector comerciable. El sector no comerciable puede usar este co¬nocimiento. Se estudia cómo la...

This paper builds a small-open-economy, non-scale-growth model with negative population growth and investigates the relationship between trade patterns and per capita consumption growth. Under free trade, if the population growth rate is negative and its absolute value is small, the home country...

This paper builds a two-country, two-sector, non-scale growth model and investigates the relationship between trade patterns and the growth rate of per capita real consumption. We consider negative population growth as well as positive population growth. We show that, as long as the population...

Since (at least) Ricardo, international trade has been perceived as a positive-sum-gain – any partner involved in the international activity of exchange would be at the end better off, no matter how bad was its previous economic position. The Ricardian principle of comparative advantages...

In this paper, we construct and estimate a unified model combining three of the main sources of cross-country income disparities: differences in factor endowments, barriers to technology adoption and the inappropriateness of frontier technologies to local conditions. The key components of our...

This paper investigates the effects of connectivity charges (communication costs) on bilateral exports in Sub Saharan Africa (SSA). Data from 19 exporter countries was used together with communication costs data in a gravity model of trade setup. The export data derive from the IMF Direction of...