Department of Economics

Faculty of Arts and Social Sciences


Seminar - Upcoming

2013 Asia Summer Institute in Behavioral Economics
Asian Meeting of the Econometric Society 2013
Past Events
Joint Seminar with Global Production Networks Centre


Global Income, Trade, and Industrialization: The Geography of Growth Take-Offs


Richard Baldwin
Professor of International Economics
Graduate Institute, Geneva


Apr 25, Tue

Time: 4 - 5:30 pm
Venue: Lim Tay Boh Seminar Room (AS2 03-12)
National University of Singapore
1 Arts Link, Singapore 117570

Chair: Davin Chor

This article formalizes the theoretical interconnections among four post–industrial revolution phenomena—the industrialization and growth take-off of rich northern nations, massive global income divergence, and rapid trade expansion. In stages-of-growth model, the four phenomena are jointly endogenous and are triggered by falling trade costs. In the first growth stage (with high trade costs) industry is dispersed internationally, and growth is low. In the second (medium trade costs), the North industrializes rapidly, growth take-off, and the South diverges. In the third (low trade costs), high growth and global divergence become self-sustaining. In the fourthstage, when the cases of "trading'' ideas decreases, the South quickly industrializes and converges..