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Theoretical and Applied Economics
No. 2 / 2019 (619), Summer

Trade in a two sector endogenous growth model with two accumulating factors

University of Greifswald, Germany

Abstract. This paper provides an endogenous growth model including technology diffusion induced by openness. A two sector model composed of a consumption good sector and an education sector shows that the openness leads to a compensation of the lack considering the human capital stock. It is a comparison between a relatively less developed country, which does not use physical capital in the education sector, and a relatively developed country using both, human and physical capital in the education sector. By importing a relatively human capital intensive good, the relatively less developed country benefits from technology diffusion. This paper shows, that introducing trade implies a higher growth rate than in a closed economy.

Keywords: endogenous growth, accumulating factors, trade.

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The Economicity. The Epistemic Landscape, Marin Dinu, 2016


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