Gravity, market potential and economic development
基于新经济地理学理论，利用1965-2003年全球贸易数据，实证检验了市场潜力对各国人均收入的长期驱动作用。
This article provides evidence on the long-term impact of market potential on economic development. It derives from the New Economic Geography literature a structural estimation where the level of factors ’ income of a country is related to its proximity to large markets, referred to as ‘market potential’. The empirical part evaluates this market potential for all countries in the world with available trade data over the 1965–2003 period and relates it to income per capita. Overall results show that market potential is a powerful driver of increases in income per capita.