A Microeconomic Mechanism for Economic Growth

descriptionPublicationkeyboard_double_arrow_right Article , Part of book or chapter of book 01 Jun 1991 English Publisher:University of Chicago PressJournal:Journal of Political Economy, volume 99, pages 460-482 (issn: 0022-3808, eissn: 1537-534X,

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Authors: Yang, Xiaokai; Borland, Jeff;

doi: 10.1086/261762 , 10.1142/9789812569257_0018

A Microeconomic Mechanism for Economic Growth

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Abstract

This paper constructs a dynamic general equilibrium model in which economic growth is explained by the evolution of the division of labor. The relationships among the accumulation of human capital, the evolution of the division of labor, endogenous comparative advantage, trade dependence, the market structure, and economic growth are investigated.

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