Service liberalization, endogenous industrial composition and modernization
Date
2005
Authors
Sim, N.
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Journal article
Citation
Applied Economics Letters, 2005; 12(3):161-163
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Nicholas C. S. Sim
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Abstract
This paper presents a simple two-sector two-factor model with endogenously determined industrial composition. It is shown that by shrinking the cone of diversification, service liberalization may enable the economy to switch from equilibrium where both traditional and modern goods are produced to another where specialization in the modern good takes place.
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© 2005 Taylor & Francis Group Ltd.