Growth and welfare effects of unilateral trade liberalization with heterogeneous firms and asymmetric countries

研究成果: Article査読

8 被引用数 (Scopus)

抄録

How do reallocations across heterogeneous firms induced by unilateral trade liberalization affect long-run growth and welfare? To answer this question, we formulate a two-country model of endogenous growth, heterogeneous firms, and asymmetric countries. The relative wage and number of domestic varieties are endogenously determined. We show that even unilateral trade liberalization can raise the balanced growth rate. Although growth-enhancing trade liberalization is always welfare-enhancing in the symmetric country case, it does not generally ensure higher long-run welfare for at most one country because of asymmetric real wage effects caused by a change in the relative number of varieties.

本文言語English
ページ(範囲)167-173
ページ数7
ジャーナルJournal of International Economics
109
DOI
出版ステータスPublished - 2017 11月

ASJC Scopus subject areas

  • 財務
  • 経済学、計量経済学

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