From endogenous growth to stationary state: The world economy in the mathematical formulation of the Ricardian system

Rodolfo Signorino, Rodolfo Signorino, Neri Salvadori

Risultato della ricerca: Article

4 Citazioni (Scopus)

Abstract

We analyze 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 toward the stationary state and others away from it. We also use our model to assess an argument which Malthus employed in the second edition (1803) of An Essay on the Principle of Population to support a policy of agricultural protectionism.
Lingua originaleEnglish
pagine (da-a)507-527
Numero di pagine21
RivistaEUROPEAN JOURNAL OF THE HISTORY OF ECONOMIC THOUGHT
Volume24
Stato di pubblicazionePublished - 2017

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Endogenous growth
World economy
World Economy
Growth model
Commodity prices
Malthus
Scenarios
Protectionism
International trade
Commodities
International Trade

All Science Journal Classification (ASJC) codes

  • Arts and Humanities(all)
  • Economics, Econometrics and Finance (miscellaneous)
  • History and Philosophy of Science

Cita questo

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N2 - We analyze 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 toward the stationary state and others away from it. We also use our model to assess an argument which Malthus employed in the second edition (1803) of An Essay on the Principle of Population to support a policy of agricultural protectionism.

AB - We analyze 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 toward the stationary state and others away from it. We also use our model to assess an argument which Malthus employed in the second edition (1803) of An Essay on the Principle of Population to support a policy of agricultural protectionism.

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