How Are Welfare Levels Affected by Changing Transaction Efficiencies? -A Theoretical Model for Dual Opening up and Unbalanced Development
Journal Title: Scholars Journal of Economics, Business and Management - Year 2015, Vol 2, Issue 5
Abstract
Abstract: In this theoretical study, we revisit the old Ricardian model of comparative advantage. Following an inframarginal methodology, we build an extended theoretical model based on the concepts of comparative advantage and transaction efficiency to explain development and inequality in developing economies. According to our model, an increase in domestic transaction efficiency reduces inequality within a developing economy while an increase in international transaction efficiency enhances the overall welfare level in a developing economy. The results of our model may have important policy implications for developing economies in their policy-making. Keywords: transaction efficiency; comparative advantage; inframarginal analysis.
Authors and Affiliations
Yanqing Jiang
Keywords
Related Articles
- EP ID EP384658
- DOI -
- Views 76
- Downloads 0
The Future of the Tourism Industry in the Wake of Terrorism: An Analysis
Abstract:Terrorism, and its attendant effects, has become a global concern with both developed and developing countries experiencing an exponential increment in terrorist-related incidents. Due to the strength of the ind...
The Relationship between Job Satisfaction & Employee Turnover Intention in Zimbabwean Rural District Councils
Abstract:The study sought to investigate the relationship between job satisfaction and employee turnover intention in Zimbabwean rural district councils. The major variables in the study related to job satisfaction were...
Process to Determine Innovation Types Within Organizations
Abstract:Innovation is a highly-used term today which can be found in almost all branches of economy. Therefore, most organizations are developing innovation strategies to increase performance and boost profits. Especial...
Globalisation and Nigerian Economy: Diagnosis and Prognosis
The impact of globalisation on Nigerian economy is the thrust of this paper. The work uses vector auto-regression method because of the variables’ interrelatedness, time series data of 1970-2013 were analysed. The result...
Risk Management: An Approach to Manage Risk(Comparative study between Pakistan & Chinese Banks)
Abstract:The objective of this study is to compare the risk management system of Pakistan and Chinese financial institutions system. For this study we explored some primary data by interviewing in Banks in Pakistan and a...