CH6_trade_growth 国际贸易理论政策与 及应用英文版本课件.pptVIP

* Growth and TradeModule 6 Module Objectives What is the Rybczynski Theorem? What is the “Dutch Disease”? Under what circumstances the immiserizing growth will more likely occur? What is the product cycle theory? Rybczynski Theorem Two factors of production: labor and capital factors can freely move domestically but not internationally all factors are fully employed technologies of production are the same for all countries no natural and man-made trade barriers perfect competition - Rybczynski Theorem Consider only two goods: wheat and cloth W C L K - Rybczynski Theorem For simplicity, first assume that production technologies are constant W is labor intensive, C is capital intensive capital-labor ratio: W: 1/3 C: 3 W C L K 3 1 1 3 - Rybczynski Theorem If one factor endowment increases, the industry uses the factor intensive will grow, the other industry will decline “Dutch Disease” The deindustrialization of an economy as a result of the discovery of a natural resource. So named because it occurred in Holland after the discovery of North Sea gas; it has also been applied to the UK since the discovery of North Sea oil. The discovery of such a resource lifts the value of the countrys currency, making manufactured goods less competitive; exports therefore decline and imports rise. Dictionary of Business, Oxford University Press Immiserizing Growth For a small country, growth is always good. W C - Immiserizing Growth Balanced growth for a large country The country tends to be better off W C - Immiserizing Growth Growth biased toward to the import sector for a large country = better off W C - Immiserizing Growth Growth biased toward to the export sector for a large country = maybe worse off W C - Immiserizing Growth Two effects when a large country grows growth effect = tends to make it better off TOT effect if growth biased toward to import sector =TOT improves if growth biased toward to export sector = TOT worsens If TOT worsens so much that dominates the growth e