6533b82efe1ef96bd12928ba
RESEARCH PRODUCT
From endogenous growth to stationary state: The world economy in the mathematical formulation of the Ricardian system
Rodolfo SignorinoNeri Salvadorisubject
MacroeconomicsEconomics Econometrics and Finance (miscellaneous)PopulationSupply and demand060104 historyWorld economyHistory and Philosophy of Scienceendogenous growth; international trade; Pasinetti; Ricardo; stationary state; world economy; 2001; Arts and Humanities (all); History and Philosophy of ScienceArgument0502 economics and businessEconomics0601 history and archaeology050207 economicsstationary stateeducationSettore SECS-P/01 - Economia PoliticaPasinettiArts and Humanities (all)Ricardo2001education.field_of_studyEndogenous growth theoryGeneral Arts and Humanitiesinternational trade05 social sciences06 humanities and the artsProtectionismworld economyendogenous growthSettore SECS-P/04 - Storia Del Pensiero EconomicoCapital (economics)Commodity (Marxism)Ricardo Pasinetti international trade endogenous growth world economy stationary state.description
AbstractWe analyse international trade in a Pasinetti–Ricardo growth model in the world economy scenario in which several small trading countries coexist and international commodity prices are determined by the interplay of supply and demand amongst them. We demonstrate that all the trading countries eventually reach the stationary state, though this process is not monotonic and the dynamics of capital and population may actually push some countries towards the stationary state and others away from it. We also use our model to assess an argument which Malthus employed in the second edition of An Essay on the Principle of Population (1803) to support a policy of agricultural protectionism.
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2016-07-15 |