Abstract
The theory of international trade, till recently, has been notorious for the paucity of dynamic models. The objective of this chapter is to ‘dynamize’ the static HOS model by introducing endogenous capital accumulation through a process of saving and investment and exogenous growth of population or labour supply. Essentially, we here discuss the path-breaking work of Oniki and Uzawa (1965), who have formulated a dynamic model of international trade to analyse the impact of capital accumulation on the patterns of international trade.
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