ISSN:
1573-2878
Keywords:
Economic growth
;
dynamic programming
;
singular arcs
Source:
Springer Online Journal Archives 1860-2000
Topics:
Mathematics
Notes:
Abstract Ryder (Ref. 1) has developed a simple two-sector macroeconomic model incorporatinglearning by doing as a determinant of the growth of productivity-enhancing experience and its effect on foreign trade. In this paper, optimal foreign trade and capital allocation policies are determined, in the context of the above model, for ranges of the international trade price not considered by Ryder. An extension of Ryder's model to include a dual trade price structure is briefly discussed. A specific numerical example is used to ascertain the configuration of the various features occurring in the extremal fields at different price levels.
Type of Medium:
Electronic Resource
URL:
http://dx.doi.org/10.1007/BF00935302
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