search query: @author Walz, U. / total: 5
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| Author: | Walz, U. |
| Title: | Does an enlargement of a common market stimulate growth and convergence? |
| Journal: | Journal of International Economics
1998 : AUG, VOL. 45:2, p. 297-321 |
| Index terms: | ECONOMICS INTERNATIONAL GROWTH |
| Language: | eng |
| Abstract: | The author addresses the effects of a step-wise enlargement of a common market from two to three countries by using a three-country endogenous growth model. The author shows that integration of a third, technologically lagging country via trade liberalization causes a reallocation of resources which stimulates overall growth. Liberalizing trade with the third country leads to income convergence between the two converging countries. Furthermore, the author looks at the impact of a liberalization of factor markets. |
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