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Heterogeneous Productivity and the Gains from Trade and FDI
Authors:Ehsan U. Choudhri  Antonio Marasco
Affiliation:1. Department of Economics, Carleton University, 1125 Colonel By Drive, Ottawa, ON, K1S 5B6, Canada
2. Department of Economics, Lahore University of Management Sciences, Lahore, Pakistan
Abstract:Nontraded goods account for a major share of GDP in most economies, but have not been incorporated in the welfare analysis of monopolistic-competition models with heterogeneous productivity. This paper extends Helpman, Melitz and Yeaple (American Economic Review 94(1):300–316, 2004) to explore welfare effects in the presence of a nontraded good. We derive new analytical results about how the gains from trade and FDI are determined and affected by key parameters in the case of symmetric countries. The model is calibrated to a country group that includes all major developed countries. The gains from openness (trade and FDI) are found to be substantial (between 3.24 and 6.27 per cent of income) even if nontraded goods represent a major part of the economy. Most of these gains are attributed to trade rather than FDI.
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