Endogenous Technology Gap with North-South Trade
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Abstract
This paper examines a simple unbounded endogenous growth model of bounded trade-induced learning by doing to illustrate the long-run effects of North-South trade on economic growth. The concept of specialization in both innovative and imitative processes is incorporated into learning by doing model with North-South trade. In this model, international trade results in a dynamic feedback effect between Southern imitation and Northern innovation yielding a higher steady-state growth rate. In a wide-gap equilibrium, the effect of Southern imitation is greater than that of Northern innovation. However, the effect of Northern innovation is greater than that of Southern imitation under a narrow-gap equilibrium. The model reveals that North-South trade generates steady endogenous technology gap in the long-run equilibrium.
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