Evidence on growth, increasing returns and the extent of the market:
We examine two sets of economies, (19th century U.S. states and 20th century less developed countries) where growth rates are positively correlated with initial levels of development to document how these dynamic increasing returns operate. We find that open economies do not display a positive conne...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass.
1994
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| Schriftenreihe: | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series
4714 |
| Schlagworte: | |
| Zusammenfassung: | We examine two sets of economies, (19th century U.S. states and 20th century less developed countries) where growth rates are positively correlated with initial levels of development to document how these dynamic increasing returns operate. We find that open economies do not display a positive connection between initial levels and later growth; instead, closed economies do display this positive correlation (i.e. divergence). This evidence suggests that increasing returns operate by expanding the extent of the market (as in the big push theories of Murphy, Shleifer and Vishny (1989)). For U.S. states, we also find that larger markets enhance growth by increasing the division of labor. Among LDCs, while more diversified production increases growth, diversification is negatively associated with openness for the poorest economies (as in the quality ladder theories of Boldrin and Scheinkman (1988), Young (1991) and Stokey (1991)). However, and despite the negative effect that openness has on the diversity of production and, thus, on growth, we find that openness still substantially increases growth for these poorer economies. |
| Beschreibung: | 51 S. graph. Darst. |
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| 100 | 1 | |a Ades, Alberto F. |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a Evidence on growth, increasing returns and the extent of the market |c Alberto F. Ades ; Edward L. Glaeser |
| 264 | 1 | |a Cambridge, Mass. |c 1994 | |
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| 490 | 1 | |a National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |v 4714 | |
| 520 | |a We examine two sets of economies, (19th century U.S. states and 20th century less developed countries) where growth rates are positively correlated with initial levels of development to document how these dynamic increasing returns operate. We find that open economies do not display a positive connection between initial levels and later growth; instead, closed economies do display this positive correlation (i.e. divergence). This evidence suggests that increasing returns operate by expanding the extent of the market (as in the big push theories of Murphy, Shleifer and Vishny (1989)). For U.S. states, we also find that larger markets enhance growth by increasing the division of labor. Among LDCs, while more diversified production increases growth, diversification is negatively associated with openness for the poorest economies (as in the quality ladder theories of Boldrin and Scheinkman (1988), Young (1991) and Stokey (1991)). However, and despite the negative effect that openness has on the diversity of production and, thus, on growth, we find that openness still substantially increases growth for these poorer economies. | ||
| 648 | 4 | |a Geschichte 1800-1900 | |
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| 651 | 4 | |a USA | |
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| 700 | 1 | |a Glaeser, Edward L. |d 1967- |e Verfasser |0 (DE-588)124526373 |4 aut | |
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| indexdate | 2024-07-09T17:40:25Z |
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| language | English |
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| series | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
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| spelling | Ades, Alberto F. Verfasser aut Evidence on growth, increasing returns and the extent of the market Alberto F. Ades ; Edward L. Glaeser Cambridge, Mass. 1994 51 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 4714 We examine two sets of economies, (19th century U.S. states and 20th century less developed countries) where growth rates are positively correlated with initial levels of development to document how these dynamic increasing returns operate. We find that open economies do not display a positive connection between initial levels and later growth; instead, closed economies do display this positive correlation (i.e. divergence). This evidence suggests that increasing returns operate by expanding the extent of the market (as in the big push theories of Murphy, Shleifer and Vishny (1989)). For U.S. states, we also find that larger markets enhance growth by increasing the division of labor. Among LDCs, while more diversified production increases growth, diversification is negatively associated with openness for the poorest economies (as in the quality ladder theories of Boldrin and Scheinkman (1988), Young (1991) and Stokey (1991)). However, and despite the negative effect that openness has on the diversity of production and, thus, on growth, we find that openness still substantially increases growth for these poorer economies. Geschichte 1800-1900 Entwicklungsländer Wirtschaftsentwicklung Ökonometrisches Modell Economic development Econometric models Economies of scale Developing countries Econometric models Economies of scale United States States 19th century Econometric models USA Developing countries Econometric models Glaeser, Edward L. 1967- Verfasser (DE-588)124526373 aut National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 4714 (DE-604)BV002801238 4714 |
| spellingShingle | Ades, Alberto F. Glaeser, Edward L. 1967- Evidence on growth, increasing returns and the extent of the market National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series Entwicklungsländer Wirtschaftsentwicklung Ökonometrisches Modell Economic development Econometric models Economies of scale Developing countries Econometric models Economies of scale United States States 19th century Econometric models |
| title | Evidence on growth, increasing returns and the extent of the market |
| title_auth | Evidence on growth, increasing returns and the extent of the market |
| title_exact_search | Evidence on growth, increasing returns and the extent of the market |
| title_full | Evidence on growth, increasing returns and the extent of the market Alberto F. Ades ; Edward L. Glaeser |
| title_fullStr | Evidence on growth, increasing returns and the extent of the market Alberto F. Ades ; Edward L. Glaeser |
| title_full_unstemmed | Evidence on growth, increasing returns and the extent of the market Alberto F. Ades ; Edward L. Glaeser |
| title_short | Evidence on growth, increasing returns and the extent of the market |
| title_sort | evidence on growth increasing returns and the extent of the market |
| topic | Entwicklungsländer Wirtschaftsentwicklung Ökonometrisches Modell Economic development Econometric models Economies of scale Developing countries Econometric models Economies of scale United States States 19th century Econometric models |
| topic_facet | Entwicklungsländer Wirtschaftsentwicklung Ökonometrisches Modell Economic development Econometric models Economies of scale Developing countries Econometric models Economies of scale United States States 19th century Econometric models USA Developing countries Econometric models |
| volume_link | (DE-604)BV002801238 |
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