国贸理论与政策Economic Growth and International Trade.ppt

Copyright by Qian Xuefeng Ch.8 Economic Growth and International Trade * * Ch.8 Economic Growth and International Trade Introduction Growth of factors of production Technical progress Growth and trade: a Small-Country case Growth and trade: a Large-Country case * * Labor Growth and Capital Accumulation Over Time balanced growth: L and K double, X and Y double. unbalanced growth: Only L doubles, X grows less than doubles * * The Rybczynski Theorem At constant commodity prices, an increase in the endowment of one factor will increase by a greater proportion the output of the commodity intensive in that factor and will reduce the output of the other commodity. X: L-intensive Y: K-intensive Only L growth Full employment X rises Y declines constant commodity prices constant factor prices constant K/L ratios and K, L productivity Reduce Y, release enough K to absorb L * * The Growth of Labor Only and the Rybczynski Theorem 130X, 20Y 270X, 10Y * * Graphical Proof of the Rybczynski Theorem * * Dutch disease (1) The term was coined创造,杜撰 in 1977 by The Economist to describe the decline of the manufacturing sector in the Netherlands after the discovery of natural gas in the 1960s. Dutch disease tries to explain the apparent relationship between the exploitation of natural resources and a decline in the manufacturing sector. The theory is that an increase in revenues from natural resources will de-industrialize削弱工业化 a nation’s economy by raising the exchange rate, which makes the manufacturing sector less competitive and public services entangled卷入的;陷入的with business interests. * * Dutch disease (2) A resource boom will affect this economy in two ways: The resource movement effect, the resource boom will increase the demand for labor, which will cause production to shift toward the booming sector, away from the lagging sector. This shift in labor from the lagging sector to the booming sector is called direct-deindustrialization. The spending movement effect occu