Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/94744
Authors: 
Baldwin, Richard
Year of Publication: 
1990
Series/Report no.: 
IUI Working Paper 270
Abstract: 
Productive factors such as human and physical capital are accumulated and trade can affect the steady-state levels of such factors. Consequently, trade liberalization will have dynamic effects on output and welfare as the economy moves to its new steady state, in addition to its usual static effects. The output impact of this dynamic effect is measurable and appears to be quite large. The welfare impact of this dynamic effect is also measurable. The size of this dynamic gain from trade depends on the importance of external scale economies.
Subjects: 
Trade liberalization
Gains from trade
Welfare
JEL: 
D60
F11
Document Type: 
Working Paper

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