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1、Chapter 7: Economic Growth and International Trade,7.1 Introduction Trade theory of statics (classical, neo-classical, and new theory of trade, assumption of constant factor-endowments, technology and tastes) Trade theory of comparative statics: the effects of changes of endowments, technology and t
2、astes on equilibrium Trade theory of dynamic analysis,7.2 Growth of Factors of Production,Through times, a nations population usually grows and with it the size of its labor force. 7.2a Labor Growth and Capital Accumulation over Time Balanced growth Imbalanced growth,Growth of Labor and Capital Over
3、 Time,7.2b The Rybczynski Theorem,At constant commodity prices, an increase in the endowment of one factor will increase by a greater proportion the output of the commodity intensive in that factor and will reduce the output of the other commodity. For illustration, pls see the next figure.,The Grow
4、th of Labor Only and the Rybczynski Theorem,7.3 Technical Progress,7.3a Three types: Neutral technical progress(中性技术进步): increases the productivity of L and K proportionately so that the K/L remains the same after the neutral technical progress as it was before at unchanged relative factor prices (w
5、/r) Labor-saving technical progress（劳动节约型技术进步）: increases the productivity of K proportionately more than the productivity of L. Capital-saving technical progress（资本节约型技术进步）: increases the productivity of L proportionately more than the productivity of K.,Hicksian Neutral, L-Saving, and K-Saving Tec
6、hnical Progress,7.3b Technical Progress and the nations production frontier,Only neutral technical progress is discussed here, other types of technical progress requires more advanced mathematics method The illustration, see the next figure: Technical progress in X; Technical progress in Y; Technica
7、l progress in X and Y simultaneously,Neutral Technical Progress,Growth of Labor and Capital Over Time,7.4 Growth and Trade: The Small Country Case,7.4a The Effect of Growth on Trade The production and consumption can be: Protrade(产生或促进贸易的) Antitrade(反贸易的) Neutral(中性的),7.4B The illustration of Factor
8、 Growth, Trade, and Welfare,Factor Growth and Trade: The Small-Country Case,Factor Growth and Trade: The Small-Country Case,Conclusion:,The small country is worse off after growth because its labor force doubled while its total consumption less than doubled. The consumption and welfare of the “repre
9、sentative citizen” decline as a result of this type of growth.,7.5 Growth and trade: The Big Country Case,7.5A Growth and the nations Terms of Trade and Welfare Wealth effect: the effect of the growth on the per capital output Terms-of- trade effect: the effect of the growth on the terms of trade Th
10、e illustration,Growth and Trade: The Large-Country Case,Growth and Trade: The Large-Country Case,7.5B Immiserizing Growth(不幸的增长),Even if the wealth effect by itself tends to increase the nations wealth, the terms of trade may deteriorate so much as to lead to a net decline in nations welfare. This k
11、ind of case is called immiserizing growth by Bhagwati. Illustration,Immiserizing Growth,7.5C Illustration of beneficial Growth and Trade,Growth That Improves Nation 1s Terms of Trade and Welfare,7.6 Growth, Change in Tastes, and Trade in Both Nations,When economic growth in both nations occurs, the production frontiers and offer curves of both nations shift. Change in tastes in both nations can also change the offer curves of both nations by affecting the community indifference curves.,Growth and Trade in Both Nations,
