The Trade-Growth Nexus in Taiwan’s Development
There are many convincing arguments in the development literature as to why trade is important for growth. These range from the well-known static gains from trade — which Samuelson acknowledged to hold as possibly the only proposition in economics both non-trivial and true — to such dynamic elements as accommodating the vent for surplus of previously idle resources (including labor) and to trade as the critical carrier of both the Smithian and Schumpeterian types of technology change.
KeywordsDirect Foreign Investment Total Factor Productivity Real Wage Total Factor Productivity Growth Export Performance
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