This paper deals with the process of industrial development that has been unfolding in Central and East-European Countries during the last two decades, with special focus on changes in international specialization induced by successive shifts in comparative advantage. As it was to be expected,...

This paper explores the relationship between factor substitution in production and the steady-sate level of capital stock in a growing economy. Unlike the foregoing studies on this topic that have exclusively utilized one-sector growth models, we consider a two-sector economy where investment...