Growth, Specialization, and Trade Liberalization
研究贸易自由化与经济增长的双向互动：专业化带来的动态规模报酬递增能提高全球增长率，而增长又通过改变比较优势影响各国政府征收关税的动机。文章分析了两种均衡——低增长高关税与高增长低关税——并探讨各自出现的条件。
This paper examines a two-way interaction between trade liberalization and economic growth. Through dynamic increasing returns to specialization, international trade can increase world growth rates. But growth, through specialization , alters patterns of comparative advantage, changing the incentives to levy tariffs in a dynamic tariff game between governments. Two types of equilibria are analyzed. In one, average growth rates are low, tariffs are high and rising, the ratio of exports to income (the trade ratio) is low, and falls to zero asymptotically. In the other, growth rates are high, tariffs are low and falling, the trade ratio is higher, and rises over time. The conditions under which each type of equilibrium will be observed are investigated.