经济学.docx
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经济学.docx
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经济学
PublishedinInternationalJournalofDevelopmentPlanningLiterature,
Vol.14,No.3,July-Sept.1999,pp.403-410
THEENRICHMENTOFASECTORBENEFITSOTHERS:
THECASEOFTRADEFORSPECIALIZATION
SiangNgandYew-KwangNg
Dept.ofEconomics
MonashUniversity,Clayton3168.
Fax:
613-99055476
Email:
Siang@buseco.monash.edu.au
Kwang.ng@buseco.monash.edu.au
(ThesecondauthorwishestothanktheNationalScienceCommitteeofTaiwanandtheEconomicResearchFoundationofNationalTaiwanUniversityforresearchsupport.)
Abstract
Ng(1996)showsthattheenrichmentofasector(individual/region/country)tendstobenefitothersasagroupinitsgeneralthrust.HeestablishesthisusingmodelsofRicardian(exogenous)comparativeadvantageforboththecompetitiveandthemonopolisticcases.Here,weexaminewhetherenrichmentbenefitsothersinamodelwithnoexogenouscomparativeadvantage,withtradegainsfromeconomiesofspecialization.WedothisbyextendingtheYang-Ng(1993)frameworktoanopeneconomy.Ourprincipleresultsarethat,iftheenrichmentconsistsinahigherabilitytoproducegoods,thistendstobenefitsothers;iftheenrichmentconsistsinanimprovementinthetransactionefficiency,theresultisambiguous.
JELclassifications:
F10,F43,O40
Keywords:
trade,growth,specialization,enrichment,interaction
InourcurrentworldofglobalizationwiththefastgrowingAsianeconomies(despitetherecentfinancialstorm,theareamaybeexpectedtogrowstronglyafteradjustments),theeffectoftheenrichment/declineofasector(includingindividual,region,country,area,oragroupthereof)onothersisanimportantproblemwithsignificantimplicationsforthedevelopmentplanningofacountry.Ng(1996)showsthattheenrichmentofasectortendstobenefitothersasagroupinitsgeneralthrust.Specifically,theimprovementintheabilitytoproducemoreofsomegoodsmaybenefitorharmspecifictradingpartners.However,theproportionateexpansionoftheproductionpossibilitysetbenefitsothersasagroupif(butnotonlyif)theimportsofthecountryarenotmainlyinferiorgoods.HeestablishesthisusingmodelsofRicardian(exogenous)comparativeadvantageforboththecompetitiveandthemonopolisticcases.Here,wewishtoseewhetherenrichmentbenefitsothersinamodelwithnoexogenouscomparativeadvantage,withtradegainsfromeconomiesofspecialization.WedothisbyextendingtheYang-Ng(1993)frameworktoanopeneconomy.Ourprincipleresultsarethat,iftheenrichmentconsistsinahigherabilitytoproducegoods,thistendstobenefitsothers;iftheenrichmentconsistsinanimprovementinthetransactionefficiency,theresultisambiguous.
1.TheYang-Ngframework
TheNeoclassicaleconomistsmadeanimportantanalyticaladvancebyintroducingmarginalanalysisintoeconomics,withtheuseofthepowerfultoolofcalculus.Thisallowsproblemsofresourceallocationtobeanalyzedbeautifully.Thisconcentrationonresourceallocationproblemsusingcalculushasbeenfacilitatedbythedichotomyofconsumersandproducers.Italsodivertedtheattentionofeconomistsfromtheequallyimportantproblemsofdivisionoflabour,economiesofspecialization,andeconomicorganizationthatwereemphasizedbyclassicaleconomistsincludingAdamSmith.YangandNg(1993)“attempttoshiftthefocusbacktospecializationandthedivisionoflaborbyabandoningthedichotomybetweenconsumersandproducers…[and]haveprovideduswitharefreshingnewapproachtomicroeconomics,onethathasthepotentialtoaddressmanyissuesthathavelongresistedformaltreatments”(Smythe1994,p.692).Abandoningthedichotomyallowsthechoiceofeconomicorganizations(autarky,trade,firms,hierarchy)tobeanalyzedendogenouslyfromthebasicdecisionsattheindividuallevel.Theemergenceoffirms,etc.arediscussedinYangandNg(1993).Here,weconcentrateontheissueoftrade.Trademayemergeevenintheabsenceofexogenouscomparativeadvantagebetweenex-anteidenticalindividualsandcountries,duetotheeconomiesofspecializationthatmakethedivisionoflabourpotentiallyadvantageous.
ItisassumedthattheeconomyconsistsofMex-anteidenticalconsumer-producersandmconsumergoods.Denotingtheself-providedamountofgoodiasxi,theamountpurchasedfromthemarketofgoodiasxid,theamountofgoodiconsumedisxi+kxid,wherekxidistheamountanindividualobtainswhenshepurchasesxid,1-kbeingthetransactioncostcoefficientandkthetransactionefficiencycoefficient.
ACobb-Douglasutilityfunctionisadoptedtoreflectthepreferencefordiverseconsumption.(Otherutilityfunctions,e.g.CES,arealsousedinYangandNg1993withoutchangingthemainresults.)
(1)u=i=1m(xi+kxid)
wherem=1.(Sinceonlytheordinalaspectsoftheutilityfunctionarerelevanthere,thisisjustaconvenientnormalization.)
Eachconsumer-produceralsohasasystemofproductionfunctions
(2)xi+xis=liai=1,....m;a>1
wherexisistheamountofgoodisoldtothemarketandxi+xisistheamountofgoodiproducedandlitheamountoflabourusedinproducinggoodi.Theassumptionofa>1capturestheeconomiesofspecialization,makingthelabourproductivityintheproductionofeachgoodincreasewiththeindividual'slevelofspecializationinitsproduction,measuredbythelabourtimeused.Apartfromtheperunittransactioncost(1-k),afixedcost(measuredbylabourtime)forthepurchaseofeachgoodcisalsoassumed.Withn-1goodspurchasedfromthemarket,theendowmentconstraintofanindividualisgivenby
(3)c(n-1)+i=1mli=1;li0
wherethetotalamountoflabourtimehasbeennormalizedtounity.Thebudgetconstraintoftheindividualisgivenby
(4)pixis=rRprxrd
wherepiisthepriceofgoodi,Risasetofallgoodspurchased.In(4),onlyonegoodissuppliedtothemarketbyanindividualsince,froma>1,itcanbeshownthatanindividualsellsonlyonegoodatmost(SeeLemma2.1inYangandNg,1993).Eachindividual(effectively)takesthemarketpricesasgiveneitherbecausethepopulationislargerelativetothenumberofgoodsandthusthenumberofindividualsproducingeachgoodi,Mi,islargeand/orduetothecoincidencewiththeWalrasianregimeinthemultilateralbargaininggameoftheYang-Ngmodel(1993,Ch.3).
Eachindividualisthenallowedtomaximizeutilitybyallottingher/hisfixedamountoftimetotheproductionandpurchaseofdifferentgoods,balancingthetradeoffbetweeneconomiesofspecialization(a>1)ontheonehandandthecostsofmarkettransaction(1-k>0,c>0)ontheother.Eachindividualisallowednotonlytochoosethequantitiesofthevariousgoodsconsumedbutalsotochoosewhatgoodstoself-provideandselltothemarket.Ifanindividualbuysagood,shedoesnotsellitandviceversa.
Next,marketequilibriumintermsoftheequalityoftheamountofeachgoodsuppliedanddemandedinthemarketisthenimposed.
(5)Mixis=rRMrxrid
whereMiisthenumberofindividualssellinggoodi,xriistheamountoftradedgoodipurchasedbyindividualssellinggoodr,itcanthenbeshownthat(Proposition5.1ofYangandNg)ifthetransactionefficiencyand/orthedegreeofeconomiesofspecializationareverylow,theequilibriumisautarky.Allindividualsself-provideallgoods.Asthetransactionefficiencyimproves(i.e.kincreases),eachindividualsellsagoodtothemarketandbuyssomeothergoodsinexchange.Thenumberofgoodspurchasedfromthemarket,divisionoflabourandincomeallincreasewithtransactionefficiency.Wheneachperson'snumberofgoodspurchasedfromthemarketissmall,tradeoccurswithinasmalllocalcommunity.Whenthenumberofgoodspurchasedfromthemarketbecomeslargerandlargerduetotheincreaseintransactionefficiencyandendogenousincreaseincomparativeadvantagethroughlearningbydoing(YangandNg1993,Ch.7),tradeexpandstounifythenationalmarketandthentoinvolveinternationaltrade.
2Explicitmodelingofinternationaltrade
Inthissection,thebasicYang-Ngmodelisextendedtocoverinternationaltradeexplicitly.Forsimplicity,takethecaseoftwosymmetricalcountries.Toavoidtoomanysubscripts,ahatoveravariabledenotesitsvalueinanothercountryortherestoftheworld.(Notethatkisthetransactionefficiencycoefficientofdomestictradeforthiscountry;kwithabaristhatforinternationaltradeofthiscountry;kwithahatisthatfordomestictradeintheforeigncountry;kwithbothabarandahatisthatforinternationaltradeintheforeigncountry.)Eachindividualiinthiscountrymaximizes
(6)
1
wherexiisthequantityofgoodiretainedbyindividualiforself-consumption,Riisthesetofgoodspurchaseddomestically(byindividualsellinggoodi)fromotherindividuals,Siisthesetofgoodspurchasedinternationally,
isthetransactioncostsofinternationaltrade,andJiisthesetofself-providedgoods.Itisassumed(asistrueformostcasesinreality)that
(i.e.internationaltradeismorecostlythandomestictrade)suchthattheopportunityfordomestictradeisexhaustedbeforeinternationaltradetakesplace.Apartfromreflectingapreferencefordiverseconsumption,theCobb-Douglasutilityfunctionalsoimplieshomotheticity(rulingoutinferiorgoods)andhencecapturesthebench-markcaserequiredbytheconfinementtothe“generalthrust”ofenrichment.Eachindividualiissubjecttothefollowingconstraintsintheabovemaximizationproblem.
(7)
whereAisaproductivityfactor.AnincreaseinArepresentsaproportionateincreaseinproductivityacrossallgoods.Thus,itcorrespondstotheproportionate
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