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Divergnce, Convergence, and the Gains from Trade

Author

Listed:
  • Hymans, S.H.
  • Stafford, F.P.

Abstract

This paper is about a country which has enjoyed a comparative advantage in producing some good(s) and suddenly finds its trading partners increasing their productivity in producing precisely those same goods; e.g., the U.S. with its big lead in many kinds of manufacturing production in the 1950s and 1960s, and the rest of the world catching up in the same kinds of goods in the 1970s and 1980s. This is what the paper means by "convergence." We show that such convergence results in an absolute loss of real income and standard of living for the original "leader" country. Copyright 1995 by Blackwell Publishing Ltd.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Hymans, S.H. & Stafford, F.P., 1994. "Divergnce, Convergence, and the Gains from Trade," Working Papers 370, Research Seminar in International Economics, University of Michigan.
    • Handle: RePEc:mie:wpaper:370
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    Citations

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    Cited by:

    1. Ralph E. Gomory, 1996. "Panel discussion: inherent conflict in international trade," Conference Series ; [Proceedings], Federal Reserve Bank of Boston, vol. 40(Jun), pages 279-285.
    2. Boggio, Luciano, 2009. "Long-run effects of low-wage countries' growing competitiveness and exports of manufactures," Structural Change and Economic Dynamics, Elsevier, vol. 20(1), pages 38-49, March.
    3. repec:hal:spmain:info:hdl:2441/3201 is not listed on IDEAS
    4. Gomory, Ralph E. & Baumol, William J., 1997. "Productivity differences, world-market shares and conflicting national interests in linear trade models," Japan and the World Economy, Elsevier, vol. 9(2), pages 123-150, May.
    5. Guillaume Daudin & Jean-Luc Gaffard & Francesco Saraceno, 2007. "Ordre et désordre dans l'échange international," SciencePo Working papers Main hal-03459556, HAL.
    6. Levchenko, Andrei A. & Zhang, Jing, 2016. "The evolution of comparative advantage: Measurement and welfare implications," Journal of Monetary Economics, Elsevier, vol. 78(C), pages 96-111.
    7. repec:spo:wpmain:info:hdl:2441/3201 is not listed on IDEAS
    8. repec:hal:wpspec:info:hdl:2441/3201 is not listed on IDEAS
    9. repec:spo:wpecon:info:hdl:2441/3201 is not listed on IDEAS

    More about this item

    Keywords

    international trade;

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