DOCSLIB.ORG

Free Entry Economics

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Free Entry Economics Free entry economics click here to download In economics, free entry is a condition in which firms can freely enter the market for an economic good by establishing production and beginning to sell the. We typically *assume* that free entry exists in economic models, but one thing that holds back development may be the absence of this free. Free entry is a term used by economists to describe a condition in which can sellers freely enter the market for an economic good by establishing production and. Prices and the number of items are adjusted based on the economic conditions at the time. In a free market, anyone has the freedom to enter, leave and take. The typical explanation of free entry is that in the situation where there exists a potential economic profit in a market, new firms can freely enter. Definition of free entry: The assumption that new firms are permitted to enter an industry and can do so costlessly. Together with free exit, it implies. However, these economic profits attract other firms to enter the market. Entry of many new firms causes the market supply curve to shift to the right. As the supply . Price Discrimination in Free-Entry Markets. Severin Borenstein (borenste@haas. www.doorway.ru). RAND Journal of Economics, , vol. 16, issue 3, Examples of barriers to entry in markets. Including brand loyalty from advertising, economies of scale, vertical barries, geographical barriers. Explain how entry and exit lead to zero profits in the long run; Discuss the long- run However, these economic profits attract other firms to enter the market. Economists typically presume that free entry is desirable for social efficiency. because the fundamental economic forces underlying these various entry biases . Barriers to Entry are the obstacles or hindrances that make it difficult to enter a A primary barrier to entry is the cost that constitutes an economic barrier to entry. The reasons for this surprising result are (1) free entry and free exit and (2) the cost disadvantage due to economies of scale (the case of natural monopolies). Here we will talk about "free entry," or the ability of firms to enter a market. that an individual is free to choose to not participate in an economic transaction. Free exchangeBarriers to entry. The last in our series on the shortcomings of economics looks at the discipline's lack of diversity. It is generally the view of established economic thought that a society's welfare will be improved by encouraging entry of firms into a regulated. We consider a model of innovation where firms are allowed to invest in several projects. It is shown that free-entry, in the absence of start-up costs, leads to an. A barrier to entry is something that blocks or impedes the ability of a Economies of size - The need for a large volume of production and sales to reach the cost. conducted after economic profits have been defined and the short and long run . The experiment is about the consequences of free entry and exit, but it. We offer a new perspective to the social efficiency of entry by considering an industry with a quantity‐setting leader and free entry of followers. economy, entry is always socially insufficient in the absence of scale economies. Working Paper Series. Department of Economics. Welfare-Reducing Mergers in Differentiated. Oligopolies with Free Entry. Nisvan Erkal & Daniel Piccinin. decisions to work as brokers to identify the cost of free entry.3 Agent payoffs depend on the number . decline in aggregate economic activity in Housing. Free entry and exit - Firms can freely enter a monopolistically costs of production, but free entry and exit drive the economic profits for firms in. Free Entry and Free Mobility Both the issues of free mobility and free entry appear several times in this volume. The research reviewed in this chapter and also in. ECONOMICS and. MICROECONOMICS. Paul Krugman | Robin Wells There is free entry and exit into and from an industry when new producers can easily. Because scale economies intrinsically imply a small number of large I'd be interested in opinions on the Wikipedia entry on “free market”. free entry with our model results in a store configuration that produces welfare losses of between 3 and 9% of revenue. This is a third to half of the overall loss. “Perfect competition is a market situation where there is large number of sellers and buyers, a homogeneous product, free entry of firms into the industry perfect. Correspondence to: Arijit Mukherjee, School of Economics, University of production c and there is free entry of large number of firms (called entrants), each of. A free entry system of mineral allocation such as that used in the Canadian North . The economic efficiency of free entry will also be examined as efficiency. Second, there is free entry and exit into the market; there are no barriers to entry or exit. Third, each firm in the market produces a differentiated product. This last. Our bottom line: While free service has undeniable appeal for consumers, it can also impede competition, and especially entry. Competition. See also MARKET ECONOMY. free entry The absence of any obstacle to new entrants to a market. The consequence of free entry is that firms will enter a market. Free entry and exit of firms 4. Zero advertising cost 5. Consumers have perfect knowledge about the market and are well aware of any changes in the market. A good resource as an introduction to any lesson on museums, charges and the costs and benefits of a free entrance policy. There are no barriers to entry into or exit out of the market. Firms produce homogeneous, identical, units of output that are not branded. Each unit of input, such. (Im)Perfect Competition: Unrealistic Economics or Useful Strategy Tool? Free entry and exit: many new firms can enter the market on the very. Robert A. Ritz*. Judge Business School & Faculty of Economics Welfare losses under free entry are sometimes very large,. 24 In recent. Free Market: An economic system in which prices are determined by of a perfectly competitive market in a static setting: no barriers to entry. Free entry mandates that trade liberalization increases the rates of †Centre for Economic Performance, Department of Economics, London School of. Hence, they will help you to understand the underlying economic principles. there is free entry and exit to the market, (3) all firms sell completely identical (i.e. generate economic rents for producers via higher price paid for labeled . If we now permit free entry into the FT mechanism, then the open. Paper: 11, Managerial Economics. Module: 19 3) Free entry and exit of firms: In perfectly competitive market every firm is free to join or leave the industry. members at the IER or the Faculty of Economics, Daito Bunka University but also In this paper, we consider m Stackelberg leaders and free entry Stackelberg. Keywords: Vertical relationships, Free entry, MRI industry, Healthcare market. ∗ . Finally, this paper is related to the growing literature of health economics, in. economic and welfare implications of specific privacy regulations. In this In particular, our free-entry analysis reveals that the opt-out regime. In the long run, a firm is free to adjust all of its inputs. New firms can . Just as entry eliminates economic profits in the long run, exit eliminates economic losses. State FOUR possible economic effects of rising price inflation on the Irish .. Free entry into markets; profits sufficient to reward entrepreneurs; inefficiency. Historic research was necessary as economics was an empirical science. However, when he investigates whether the restriction of free entry is favourable or. 1. Principles of Microeconomics Barriers to entry mean that Π > 0 can prevail in LR monopoly. .. free entry, and you've got monopolistic competition. Steven C. Salop. Bureau of Economics / THE BELL JOURNAL OF ECONOMICS By zero profits, we mean an equilibrium in which free entry leads to a. economic model to show that if barriers to entry are low, the entry free entry may actually be socially wasteful (see Spence a, b;. Dixit and Stiglitz. Economic barriers to entry are part of the reason some companies thrive and others fail. Learn what barriers Register for a free trial. Are you a. Published in volume 2, issue 1, pages of American Economic Journal: Prior studies suggest that with elastically supplied inputs free entry may lead to. Mixed economy refers to the economic system where the economic activities are Since the free entry of enterprises allows a vast existence of industries and. business economics () so what is economics? there is no set definition are exhausted - free entry requires no “barriers to entry” Free exit Firms move. Since , straw-man versions of free-market economics have Free entry: While buyers and sellers may incur costs to consume and to. What is the consumer surplus? How does this change with n? c. Now suppose the number of firms is determined endogenously. What will be the free-entry. The three year Philosophy, Politics and Economics Bachelor's degree Feel free to contact one of our student ambassadors if you want to know more about. (Credit: Intel Free Press/ Flickr/ CC BY-SA ). Recall that Remember that in monopolistic competition, there are few barriers to entry. Since Rogers is earning . More significant were the effects of classical economic thought on free-trade doctrine. The most influential was Ricardo's principle of comparative advantage, . System of Preferences (GSP) is a U.S. trade program designed to promote economic growth in the developing world by providing preferential duty-free entry . However, the economic forces underlying these entry biases had not been fully exposed, leading to the typical presumption that free entry is.
Load more

Recommended publications
  • Chapter 8 Managing in Competitive, Monopolistic, and Monopolistically Competitive Markets
    Managerial Economics & Business Strategy Chapter 8 Managing in Competitive, Monopolistic, and Monopolistically Competitive Markets McGraw-Hill/Irwin Copyright © 2010 by the McGraw-Hill Companies, Inc. All rights reserved. Overview I. Perfect Competition – Characteristics and profit outlook. – Effect of new entrants. II. Monopolies – Sources of monopoly power. – Maximizing monopoly profits. – Pros and cons. III. Monopolistic Competition – Profit maximization. – Long run equilibrium. 8-2 Perfect Competition Environment Many buyers and sellers. Homogeneous (identical) product. Perfect information on both sides of market. No transaction costs. Free entry and exit. 8-3 Key Implications Firms are “price takers” (P = MR). In the short-run, firms may earn profits or losses. Entry and exit forces long-run profits to zero. 8-4 Unrealistic? Why Learn? Many small businesses are “price-takers,” and decision rules for such firms are similar to those of perfectly competitive firms. It is a useful benchmark. Explains why governments oppose monopolies. Illuminates the “danger” to managers of competitive environments. – Importance of product differentiation. – Sustainable advantage. 8-5 Managing a Perfectly Competitive Firm (or Price-Taking Business) 8-6 Setting Price $ $ S Pe Df D QM Qf Market Firm 8-7 Profit-Maximizing Output Decision MR = MC. Since, MR = P, Set P = MC to maximize profits. 8-8 Graphically: Representative Firm’s Output Decision Profit = ( Pe - ATC ) × Qf* MC $ ATC AVC Pe Pe = Df = MR ATC Qf* Qf 8-9 A Numerical Example Given – P=$10 – C(Q) = 5 + Q 2 Optimal Price? – P=$10 Optimal Output? – MR = P = $10 and MC = 2Q – 10 = 2Q – Q = 5 units Maximum Profits? – PQ - C(Q) = (10)(5) - (5 + 25) = $20 8-10 Should this Firm Sustain Short Run Losses or Shut Down? Profit = ( Pe - ATC ) × Qf* < 0 MC ATC $ AVC ATC Loss Pe Pe = Df = MR f Qf* Q 8-11 Shutdown Decision Rule A profit-maximizing firm should continue to operate (sustain short-run losses) if its operating loss is less than its fixed costs .
    [Show full text]
  • Principles of Microeconomics
    PRINCIPLES OF MICROECONOMICS A. Competition The basic motivation to produce in a market economy is the expectation of income, which will generate profits. • The returns to the efforts of a business - the difference between its total revenues and its total costs - are profits. Thus, questions of revenues and costs are key in an analysis of the profit motive. • Other motivations include nonprofit incentives such as social status, the need to feel important, the desire for recognition, and the retaining of one's job. Economists' calculations of profits are different from those used by businesses in their accounting systems. Economic profit = total revenue - total economic cost • Total economic cost includes the value of all inputs used in production. • Normal profit is an economic cost since it occurs when economic profit is zero. It represents the opportunity cost of labor and capital contributed to the production process by the producer. • Accounting profits are computed only on the basis of explicit costs, including labor and capital. Since they do not take "normal profits" into consideration, they overstate true profits. Economic profits reward entrepreneurship. They are a payment to discovering new and better methods of production, taking above-average risks, and producing something that society desires. The ability of each firm to generate profits is limited by the structure of the industry in which the firm is engaged. The firms in a competitive market are price takers. • None has any market power - the ability to control the market price of the product it sells. • A firm's individual supply curve is a very small - and inconsequential - part of market supply.
    [Show full text]
  • Some Efficiency Aspects of Monopolistic Competition: Innovation, Variety and Transaction Costs
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Todorova, Tamara Preprint Some Efficiency Aspects of Monopolistic Competition: Innovation, Variety and Transaction Costs Suggested Citation: Todorova, Tamara (2016) : Some Efficiency Aspects of Monopolistic Competition: Innovation, Variety and Transaction Costs, ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft, Kiel und Hamburg This Version is available at: http://hdl.handle.net/10419/148367 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu SOME EFFICIENCY ASPECTS OF MONOPOLISTIC COMPETITION: INNOVATION, VARIETY AND TRANSACTION COSTS Tamara Todorova American University in Bulgaria Abstract: We stress some efficiency aspects of monopolistic competition justifying it on account of its tendency to innovate and the questionable excess capacity paradigm.
    [Show full text]
  • Market Entry and Monopolistic Competition
    11 [26] Market Entry and Monopolistic Competition Chapter Summary This chapter is about market entry and monopolistic competition. In a monopolistically competitive market, entry continues until each firm in the market makes zero economic profit. Firms can differentiate their products by design, level of service, location, or product image. Here are the main points of the chapter: • The entry of a firm into a market decreases the market price, decreases output per firm, and increases the average cost of production. • In a monopolistically competitive market, firms compete for customers by producing differentiated products. • In long-run equilibrium with monopolistic competition, marginal revenue equals marginal cost, price equal average cost, and economic profit is zero. • Under monopolistic competition, the average cost of production is higher than the minimum, but there is also more product variety. • A firm can use celebrity endorsements and other costly advertisements to signal its belief that a product will be appealing. Applying the Concepts After reading this chapter, you should be able to answer these four key questions: 1. How does brand competition within stores affect prices? 2. What does it take to enter a market with a franchise? 3. What are the effects of market entry? 4. What signal does an expensive advertising campaign send to consumers? Monopolistic competition refers to a market served by many firms that sell slightly different products. This type of market has two key features: • Each firm produces a good that is slightly different than the other firms. This means that each firm is a monopoly provider of their product. • Products sold by different firms in the market are close substitutes for each other.
    [Show full text]
  • Endogenous Entry, Product Variety, and Business Cycles Author(S): Florin O
    Endogenous Entry, Product Variety, and Business Cycles Author(s): Florin O. Bilbiie, Fabio Ghironi, and Marc J. Melitz Reviewed work(s): Source: Journal of Political Economy, Vol. 120, No. 2 (April 2012), pp. 304-345 Published by: The University of Chicago Press Stable URL: http://www.jstor.org/stable/10.1086/665825 . Accessed: 07/06/2012 09:24 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use, available at . http://www.jstor.org/page/info/about/policies/terms.jsp JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact [email protected]. The University of Chicago Press is collaborating with JSTOR to digitize, preserve and extend access to Journal of Political Economy. http://www.jstor.org Endogenous Entry, Product Variety, and Business Cycles Florin O. Bilbiie Paris School of Economics, Universite´ Paris 1 Panthe´on-Sorbonne, and Centre for Economic Policy Research Fabio Ghironi Boston College, Federal Reserve Bank of Boston, and National Bureau of Economic Research Marc J. Melitz Harvard University, Centre for Economic Policy Research, and National Bureau of Economic Research This paper builds a framework for the analysis of macroeconomic fluctuations that incorporates the endogenous determination of the number of producers and products over the business cycle. Economic Previously circulated under the title “Business Cycles and Firm Dynamics” and first presented in the summer of 2004.
    [Show full text]
  • Firm Entry, Excess Capacity and Aggregate Productivity
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Savagar, Anthony; Dixon, Huw Working Paper Firm entry, excess capacity and aggregate productivity Cardiff Economics Working Papers, No. E2017/8 Provided in Cooperation with: Cardiff Business School, Cardiff University Suggested Citation: Savagar, Anthony; Dixon, Huw (2017) : Firm entry, excess capacity and aggregate productivity, Cardiff Economics Working Papers, No. E2017/8, Cardiff University, Cardiff Business School, Cardiff This Version is available at: http://hdl.handle.net/10419/174136 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative
    [Show full text]
  • MATHEMATICAL MODELS in ECONOMICS Vol. II
    MATHEMATICAL MODELS IN ECONOMICS –- Vol. II – Growth, Development, and Technological change - Volker Grossmann, Thomas M. Steger GROWTH, DEVELOPMENT AND TECHNOLOGICAL CHANGE Volker Grossmann University of Fribourg; CESifo, Munich; Institute for the Study of Labor (IZA), Bonn Thomas M. Steger ETH Zurich; CESifo, Munich Keywords: Endogenous technical change; Economic growth; Horizontal Innovations; Scale effects; Vertical innovations. Contents 1. Introduction 2. Horizontal Innovation 3. Vertical Innovation 4. R & D-based Growth with Horizontal and Vertical Differentiation 5. Conclusion Glossary Bibliography Biographical Sketches Summary The theory of endogenous technical change has deeply contributed to our understanding of the fundamental sources of economic growth and development. In this chapter we survey important contributions in the field by focusing on the basic structure of endogenous growth models with horizontal as well as vertical innovation and emphasizing important implications for growth policy. We address issues like the scale effect problem, directed technological change to understand the evolution of wage inequality, long-run divergence between the innovating North and the imitating South due to inappropriate technology in the South, the relationship between trade and growth, competition and R&D, and the role of imperfect capital markets for R&D-based growth. 1. Introduction Sustained and significant growth in average world per capita income started roughly with the first era of the industrial revolution (Jones, 2005, Section 5). There is little doubt that technological progress through process innovations played the key role in initiating, accelerating, and sustaining economic growth in the modern era (e.g. Mokyr, 2005). Even according to neoclassical growth theory, long-run growth in income and physical capital per worker is entirely driven by productivity growth (more precisely, by the rate of labor-saving technological progress).
    [Show full text]
  • Scale Economies and Capacity Utilization in U
    Nonparametric Measures of Scale Economies and Capacity Utilization: An Application to U.S. Manufacturing Subhash Ray University of Connecticut Working Paper 2013-09 March 2013 365 Fairfield Way, Unit 1063 Storrs, CT 06269-1063 Phone: (860) 486-3022 Fax: (860) 486-4463 http://www.econ.uconn.edu/ This working paper is indexed on RePEc, http://repec.org NONPARAMETRIC MEASURES OF SCALE ECONOMIES AND CAPACITY UTILIZATION: AN APPLICATION TO U.S. MANUFACTURING Subhash C Ray Department of Economics University of Connecticut Storrs CT 06269-1063 [email protected] Abstract An economic measure of scale efficiency is the ratio of the minimum average cost to the average cost at the actual output level of a firm. It is easily measured by the ratio of the total cost of this output under the constant and variable returns to scale assumptions. This procedure does not identify the output level where the average cost reaches a minimum. This paper proposes a nonparametric method of measuring this output level using DEA. The relation between this efficient production scale, the short run physical capacity output, and the most productive scale size (MPSS) is also discussed. An empirical application using state level data from U.S. manufacturing is used to illustrate the procedure. Keywords: Efficient output; Most Productive Scale Size; Data Envelopment Analysis JEL Classification: C61, L25, D24 NONPARAMETRIC MEASURES OF SCALE ECONOMIES AND CAPACITY UTILIZATION: AN APPLICATION TO U.S. MANUFACTURING Subhash C Ray Department of Economics University of Connecticut Storrs CT 06269-1063 [email protected] In standard microeconomic theory, the capacity output of a firm has been defined in several different ways.
    [Show full text]
  • Endogenous Growth Through Selection and Imitation"
    Endogenous Growth through Selection and Imitation Alain Gablery Omar Licandroz First Draft: December 2004 This Draft: June 2007 Abstract A simple dynamic general equilibrium model is set up in which rms face idiosyncratic productivity shocks. Firms whose productivity has fallen too low exit, and entrants try to imitate the best practice of existing rms, so that the expected productivity of entering rms is a function of current av- erage productivity. Because of the resulting selection and imitation process, aggregate productivity grows endogenously. When calibrated to U.S. data, the model suggests that around one- fth of productivity growth is due to such a selection and imitation e ect. 1 Introduction The competitive struggle among heterogeneous rms is among the de ning features of a market economy. Not only does this struggle drive the price of goods down to their marginal cost of production; it also ensures that those goods are produced eciently. Firms which are unable to do that must eventually exit the market, and are replaced by new, more ecient rms. One way to interpret this mechanism We thank Paolo Giordani, Bart Hobijn, Thanh Le, Pietro Peretto, Morten Ravn, Paul Segerstrom, and seminar participants at the European University Institute, the Swiss Federal Institute of Technology Zurich, and at the SED, EEA, ASSET, and ISS conferences for helpful comments and suggestions. A previous version of this paper has circulated under the name \Growth through Selection under Rational Expectations." The authors acknowledge the nancial support of the EC, contract HPRN-CT-2002-00237. Omar Licandro also acknowledges support from the Spanish Ministry of Education under project SEJ 2004-0459/ECON.
    [Show full text]
  • 5400 Regulation of Natural Monopoly
    5400 REGULATION OF NATURAL MONOPOLY Ben W.F. Depoorter Researcher Center for Advanced Studies in Law and Economics University of Ghent, Faculty of Law © Copyright 1999 Ben W.F. Depoorter Abstract The concept of natural monopoly presents a challenging public policy dilemma. On the one hand a natural monopoly implies that efficiency in production would be better served if a single firm supplies the entire market. On the other hand, in the absence of any competition the monopoly holder will be tempted to exploit his natural monopoly power in order to maximize its profits. This chapter will take a closer look at the model of natural monopoly. It will address those areas where an unregulated natural monopoly is generally considered to be the cause of concern, before offering a brief overview of the regulatory process and some of its specific regulatory tools. It should be noted that this chapter mainly aims to provide an introduction to the vast literature on this topic, which has fascinated many economic and legal scholars over the years. JEL classification: K23, L90 Keywords: Cream Skimming, Price Regulation, Incentive Regulation, Contestable Markets, Public Ownership 1. The Natural Monopoly Model A natural monopoly exists in an industry where a single firm can produce output such as to supply the market at a lower per unit-cost than can two or more firms. The telephone industry, electricity and water supply are often cited as examples of natural monopolies. These industries face relatively high fixed cost structures. The costs necessary to produce even a small amount are high. In turn, once the initial investment has been made, the average costs decline with every unit produced.
    [Show full text]
  • Endogenous Growth and International Trade: a Survey
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Long, Ngo Van; Wong, Kar-Yiu Working Paper Endogenous growth and international trade: A survey Diskussionsbeiträge - Serie II, No. 337 Provided in Cooperation with: Department of Economics, University of Konstanz Suggested Citation: Long, Ngo Van; Wong, Kar-Yiu (1997) : Endogenous growth and international trade: A survey, Diskussionsbeiträge - Serie II, No. 337, Universität Konstanz, Sonderforschungsbereich 178 - Internationalisierung der Wirtschaft, Konstanz This Version is available at: http://hdl.handle.net/10419/101758 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu Unh/ersitat = \, Kor Stanz —T—' Sonderforschungsbereich 178 K - Jnternationalisierung der Wirtschaft" 7\ 1 \ /\ Diskussionsbeitrage *•—^ ^~> Juristische Fakultat fur Wirtschafts- Fakultat wissenschaften und Statistik Ngo Van Long Kar-yiu Wong Endogenous Growth and International Trade: A Survey 113 (337) 0 7.
    [Show full text]