Rich and Poor Countries in Neoclassical Trade and Growth
用一个新古典增长模型解释贫困陷阱、俱乐部趋同或双峰现象，认为专业化和国际贸易导致不同初始禀赋的国家收敛到不同的稳态，即使技术和行为参数相同。
A neoclassical growth model provides an explanation for a ‘poverty trap’, ‘club convergence’, or ‘twin peaks’, in terms of specialisation and international trade. The model has many countries with identical linearly homogeneous technologies for producing three goods using capital and labour. With diverse initial endowments, initial equilibrium has unequal factor prices and two diversification cones. With savings out of wages, following Galor (1996), there may easily be multiple steady states. Poor countries converge to a low steady state while rich countries converge to a high one, even though all share identical technological and behavioural parameters.