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https://doi.org/10.1515/bsrj-2017-0007

A Multi-Country Trade and Tourism with Endogenous Capital and Knowledge

Wei-Bin Zhang ; Ritsumeikan Asia Pacific University, Japan


Puni tekst: engleski pdf 888 Kb

str. 71-91

preuzimanja: 468

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Sažetak

Background: The study models a dynamic interaction among economic growth, structural change, knowledge accumulation, international trade and tourist flows. Objective: The purpose of this study is to introduce endogenous knowledge into a multi-country growth model with trade and tourism proposed by Zhang. The study models a dynamic interaction among economic growth, structural change, knowledge accumulation, international trade and tourist flows. Methods/Approach: The model is based on Arrow’s learning by doing, the Solow one-sector growth model, the Oniki-Uzawa neoclassical trade model, and the Uzawa two-sector growth model. We first build the multi-country neoclassical growth model of endogenous knowledge with international tourism. Then we show that we can follow the motion of the -country world economy with differential equations. Results: We simulate the motion of the three-country global economy. We carry out a comparative dynamic analysis by simulation with regard to the knowledge utilization efficiency, the efficiency of learning by doing, the propensity to save, the propensity to tour other countries, and the population. Conclusions: The global economy has a unique equilibrium.

Ključne riječi

trade pattern; tourism; knowledge accumulation; wealth accumulation; income and wealth distribution

Hrčak ID:

180562

URI

https://hrcak.srce.hr/180562

Datum izdavanja:

1.6.2017.

Posjeta: 905 *