Growth, trade and uneven development

Authors: Darity, William; Davis, Lewis S.

Source: Cambridge Journal of Economics, Volume 29, Number 1, January 2005 , pp. 141-170(30)

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Abstract:

Theories of growth and international trade are reviewed critically from the perspective of understanding persistent inter-country and inter-regional income inequality. Three separate literatures are considered for the insights they offer about international disparity: Classical political economy, the North–South trade models, and the ‘new’ growth and trade theories that incorporate increasing returns and/or product differentiation. Classical antecedents of the more recent theories are identified, and contrasts are drawn between structuralist and neoclassical approaches to explaining the income gap between rich and poor nations.

Keywords: Growth; International trade; Uneven development; Classical political economy; Increasing returns

Document Type: Research article

DOI: http://dx.doi.org/10.1093/cje/bei003

Affiliations: 1: University of North Carolina-Chapel Hill (William Darity, Jr) and Smith College (Lewis S. Davis)

Publication date: 2005-01-01

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The Cambridge Journal of Economics, founded in 1977 in the traditions of Marx, Keynes, Kalecki, Joan Robinson and Kaldor, provides a forum for theoretical, applied, policy and methodological research into social and economic issues.