493 research outputs found

    China's Integration with the World: Development as a Process of Learning and Industrial Upgrading

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    The process of development is full of uncertainties, especially if it is a process of transition from a planned economy to a market oriented one. Because of uncertainties and country specificity, development must be a process of learning, selective adaptation, and industrial upgrading. This paper attempts to distill lessons from China's reform and opening up process, and investigate the underlying reasons behind China's success in trade expansion and economic growth. From its beginnings with home-grown and second-best institutions, China has embarked on a long journey of reform, experimentation, and learning by doing. It is moving from a comparative advantage-defying strategy to a comparative advantage-following strategy. The country is catching up quickly through augmenting its factor endowments and upgrading industries; but this has been only partially successful. Although China is facing several difficult challenges -- including rising inequality, an industrial structure that is overly capital and energy intensive, and related environmental degradation -- it is better positioned to tackle them now than it was 30 years ago. This paper reviews the drivers behind China's learning and trade integration and provides both positive and negative lessons for developing countries with diverse natural endowments, especially those in Sub-Saharan Africa.patterns of trade; learning; innovation and growth

    Higher order coercive inequalities and Poincare’s constants

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    In this thesis we discuss three projects: the optimal constant for Poincar´e’s inequality, the isoperimetric problem for Poincar´e’s constant, and the revised Adam’s inequality with its applications to Orlicz-Sobolev embeddings.Open Acces

    Endowment structures, industrial dynamics, and economic growth

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    Economic Theory&Research,Political Economy,Economic Growth,Debt Markets,Emerging Markets

    Marshallian externality, industrial upgrading, and industrial policies

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    A growth model with multiple industries is developed to study how industries evolve as capital accumulates endogenously when each industry exhibits Marshallian externality (increasing returns to scale) and to explain why industrial policies sometimes succeed but sometimes fail. The authors show that, in the long run, the laissez-faire market equilibrium is Pareto optimal when the time discount rate is sufficiently small or sufficiently large. When the time discount rate is moderate, there exist multiple dynamic market equilibria with diverse patterns of industrial development. To achieve Pareto efficiency, it would require the government to identify the industry target consistent with the comparative advantage and to coordinate in a timely manner, possibly for multiple times. However, industrial policies may make people worse off than in the market equilibrium if the government picks an industry that deviates from the comparative advantage of the economy.Water and Industry,Economic Theory&Research,Industrial Management,Industrial Economics,Common Property Resource Development

    Coexistence for a resource-based growth model with two resources

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    We investigate the coexistence of positive steady-state solutions to a parabolic system, which models a single species on two growth-limiting, non-reproducing resources in an un-stirred chemostat with diffusion. We establish the existence of a positive steady-state solution for a range of the parameter (m,n)(m,n), the bifurcation solutions and the stability of bifurcation solutions. The proof depends on the maximum principle, bifurcation theorem and perturbation theorem
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