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dc.contributor.author
Peretto, Pietro F.
dc.contributor.author
Valente, Simone
dc.date.accessioned
2019-05-24T12:03:56Z
dc.date.available
2017-06-09T08:19:31Z
dc.date.available
2017-08-17T11:54:26Z
dc.date.available
2019-05-24T12:03:56Z
dc.date.issued
2010-01
dc.identifier.uri
http://hdl.handle.net/20.500.11850/27074
dc.identifier.doi
10.3929/ethz-a-005974644
dc.description.abstract
We analyze the relative growth performance of open economies in a two-country model where different endowments of labor and a natural resource generate asymmetric trade. A resource-rich economy trades resource-based intermediates for final manufacturing goods produced by a resource-poor economy. Productivity growth in both countries is driven by endogenous innovations. The effects of a sudden increase in the resource endowment depend crucially on the elasticity of substitution between resources and labor in interme-diates production. Under substitution (complementarity), the resource boom generates higher (lower) resource income, lower (higher) employment in the resource-intensive sector, higher (lower) knowledge creation and faster (slower) growth in the resource-rich economy. The resource-poor economy adjusts to the shock by raising (reducing) the relative wage, and experiences a positive (negative) growth effect that is exclusively due to trade.
en_US
dc.format
application/pdf
en_US
dc.language.iso
en
en_US
dc.publisher
ETH Zurich, Center of Economic Research (CER-ETH)
en_US
dc.rights.uri
http://rightsstatements.org/page/InC-NC/1.0/
dc.subject
Endogenous growth
en_US
dc.subject
Endogenous technological change
en_US
dc.subject
Natural resources
en_US
dc.subject
International trade
en_US
dc.title
Resource wealth, innovation and growth in the global economy
en_US
dc.type
Working Paper
dc.rights.license
In Copyright - Non-Commercial Use Permitted
ethz.journal.title
Economics Working Paper Series
ethz.journal.volume
10/124
en_US
ethz.size
36 p.
en_US
ethz.code.ddc
DDC - DDC::3 - Social sciences::330 - Economics
en_US
ethz.code.ddc
DDC - DDC::5 - Science::510 - Mathematics
en_US
ethz.code.jel
JEL - JEL::E - Macroeconomics and Monetary Economics::E1 - General Aggregative Models::E10 - General
en_US
ethz.code.jel
JEL - JEL::F - International Economics::F4 - Macroeconomic Aspects of International Trade and Finance::F43 - Economic Growth of Open Economies
en_US
ethz.code.jel
JEL - JEL::L - Industrial Organization::L1 - Market Structure, Firm Strategy, and Market Performance::L16 - Industrial Organization and Macroeconomics: Industrial Structure and Structural Change; Industrial Price Indices
en_US
ethz.code.jel
JEL - JEL::O - Economic Development, Innovation, Technological Change, and Growth::O4 - Economic Growth and Aggregate Productivity::O40 - General
en_US
ethz.publication.place
Zurich
en_US
ethz.publication.status
published
en_US
ethz.leitzahl
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02120 - Dep. Management, Technologie und Ökon. / Dep. of Management, Technology, and Ec.::03635 - Bretschger, Lucas / Bretschger, Lucas
en_US
ethz.leitzahl
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02045 - Dep. Geistes-, Sozial- u. Staatswiss. / Dep. of Humanities, Social and Pol.Sc.
en_US
ethz.leitzahl.certified
ETH Zürich::00002 - ETH Zürich::00012 - Lehre und Forschung::00007 - Departemente::02120 - Dep. Management, Technologie und Ökon. / Dep. of Management, Technology, and Ec.::03635 - Bretschger, Lucas / Bretschger, Lucas
ethz.relation.isPreviousVersionOf
20.500.11850/160774
ethz.date.deposited
2017-06-09T08:19:58Z
ethz.source
ECOL
ethz.source
ECIT
ethz.identifier.importid
imp59366ae18025045980
ethz.identifier.importid
imp59364d728f1b841482
ethz.ecolpid
eth:682
ethz.ecitpid
pub:45835
ethz.eth
yes
en_US
ethz.availability
Open access
en_US
ethz.rosetta.installDate
2017-07-18T16:57:41Z
ethz.rosetta.lastUpdated
2019-05-24T12:04:09Z
ethz.rosetta.versionExported
true
ethz.COinS
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