@techreport{Felbermayr2004Specialization,
abstract = {This paper presents a simple North-South model of endogenous growth, based on learning
by doing, which is consistent with the following empirical observations: (i) the price of
investment goods relative to consumption goods has been falling for the last 40 years in
most industrialized countries, (ii) poor countries are net importers of investment equipment
and (iii) after a period of initial convergence, the sample of open economies exhibits
remarkable stability of the per capita income distribution. In contrast to the research
tradition started by Lucas (1988), in the proposed model, specialization on the technologically
stagnant consumption sector does not entail a growth penalty.},
author = {Gabriel J. Felbermayr},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {O41; F43; 330; Endogenous growth; AK model; International Trade; Embodied Technical Change; Nord-S\"{u}d-Beziehungen; Internationale Arbeitsteilung; Neue Wachstumstheorie; Schrumpfungsbranche; Mehr-Sektoren-Modell; Lernprozess; Entwicklungskonvergenz; Theorie},
language = {eng},
number = {24},
title = {Specialization on a Technologically Stagnant Sector Need Not Be Bad for Growth},
type = {CeGE discussion paper},
url = {http://hdl.handle.net/10419/22151},
year = {2004}
}
