Neutrality of an increase in the price of natural resources to the level of technology

In this paper, to investigate how an increase in the price of natural resources affects the level of technology, we develop an endogenous variety expansion model of a small open economy based on that of Grossman and Helpman (1991, Ch. 3). We conclude that an increase in the price of natural resources has a neutral effect on the level of technology in the long run.

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Year of publication:	2013
Authors:	Oura, Asuka ; Morita, Tadashi
Published in:	Economic Modelling. - Elsevier, ISSN 0264-9993. - Vol. 32.2013, C, p. 347-350
Publisher:	Elsevier
Subject:	Natural resources \| R&D \| Economic growth

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Type of publication:	Article
Classification:	F43 - Economic Growth of Open Economies ; O31 - Innovation and Invention: Processes and Incentives
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010664378