Endogenous growth,asymmetric trade and resource dependence |
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| Institution: | 1. ETH Zurich, Center of Economic Research, D-MTEC, 8032 Zurich, Switzerland;2. NTNU, Department of Economics, N-7491 Trondheim, Norway;1. School of Economics, Hainan University, Haikou City, Hainan, 570228, China;2. Institute of Open Economy, Hainan province, Haikou, 570228, China;3. School of Economics and Public Policy, Adelaide Business School, The University of Adelaide, Australia;4. Department of Agricultural Finance and Cooperatives, Bangabandhu Sheikh Mujibur Rahman Agricultural University, Gazipur, Bangladesh;5. China Institute of Development Strategy and Planning, and Center for Industrial Economics, Wuhan University, Wuhan, 430072, China;6. School of Financial and Business Management Studies Federal Polytechnic Ohodo, Enugu State, Nigeria;7. Department of Economics and Development Studies, Alex Ekwume Federal University Ndufu Alike, Ikwo Ebonyi State, Nigeria;1. University of Oldenburg, Department of Economics and Law, 26111 Oldenburg, Germany;2. University of Vienna, Center of Business Studies, Brünnerstr. 72, 1210 Wien, Austria |
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| Abstract: | The aggregate income of oil-exporting countries relative to that of oil-poor countries has been remarkably constant in recent decades, despite the existence of structural gaps in productivity growth rates. This stylized fact is rationalized in an endogenous growth model of asymmetric trade where resource-poor and resource-rich economies display productivity differences but stable income shares due to terms-of-trade dynamics. The model yields two testable predictions that deserve empirical scrutiny: (i) the asymmetric impact, between exporters and importers, of national taxes on resource use on income shares and (ii) the inverse relation between terms-of-trade dynamics and total factor productivity growth. |
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