Conditions for path dependency in industrial development and implications for International Trade Theory

Davies, Ashley. (1999). Conditions for path dependency in industrial development and implications for International Trade Theory Honours Thesis, School of Economics, The University of Queensland.

       
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Author Davies, Ashley.
Thesis Title Conditions for path dependency in industrial development and implications for International Trade Theory
School, Centre or Institute School of Economics
Institution The University of Queensland
Publication date 1999
Thesis type Honours Thesis
Total pages 67
Language eng
Subjects 14 Economics
Formatted abstract The concept of an economic system at equilibrium is one of the most fundamental assumptions of neo-classical economics, and the standard theories of international trade rely on this static approach to understand trading patterns. Under certain conditions however, industrial development may largely be a path dependent and hence dynamic process, with initial conditions determining subsequent possible development paths. What a nation produces today may ultimately be a determining factor in what it is capable of producing tomorrow. Conditions that encourage path dependency include, interdependencies of firms and industries, economies of scale, external economies, as well as the dynamic, uncertain and uneven introduction of technology into the production process. This thesis examines existing theories of international trade and industrial development, and then proceeds to develop a theory of path dependency in industrial development.

 
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Created: Mon, 29 Nov 2010, 11:42:51 EST by Muhammad Noman Ali on behalf of The University of Queensland Library