IS TRADE IN TECHNOLOGY SUPERIOR TO TRADE IN GOODS? |
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| Authors: | Sugata Marjit Hamid Beladi† |
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| Institution: | Hong Kong Polytechnic University and Centre for Studies in Social Sciences, Calcutta, India;, and University of Texas at San Antonio, USA |
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| Abstract: | Using a Ricardian setting we argue that trade in technology generates higher global welfare relative to trade in goods. Hence, free trade in commodities can only be the second best outcome for the world welfare. |
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| Keywords: | goods trade technology trade welfare |
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