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INTERNATIONAL SPILLOVERS, PRODUCTIVITY GROWTH AND OPENNESS IN THAILAND: AN INTERTEMPORAL GENERAL EQUILIBRIUM ANALYSIS AgEcon
Diao, Xinshen; Rattso, Jorn; Stokke, Hildegunn Ekroll.
Thailand has experienced economic growth well above world averages for about 40 years. It is a challenge to understand the sources of this high growth path, and in particular why growth has not slowed down with assumed decreasing returns to capital. We develop an intertemporal general equilibrium model separating between agriculture and industry, and with open capital market and endogenous productivity growth to analyze the underlying adjustment mechanisms. Foreign technology spillover embodied in trade is assumed to be the driving force of the productivity growth, consistent with econometric evidence. The high growth experience is understood as a transition path with interaction between productivity growth, openness and capital investment. Counterfactual...
Tipo: Working or Discussion Paper Palavras-chave: Intertemporal growth modelling; Endogenous productivity growth; Foreign technology spillover; Trade and growth; Thailand; International Development; O4; O4; O5.
Ano: 2002 URL: http://purl.umn.edu/16316
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