Abstract
This paper advances a Ricardian interpretation of the post-World War II growth experience in Hong Kong. It involves a nontradeable wage good item--housing services--the provision of which is subject to increasing cost in land-scarce Hong Kong. Since this obstacle to growth cannot be bypassed via imports, the paper documents how the government has been channelling the rental income of the landlord to subsidize the provision of such services. The government has, thus, promoted growth by dampening the increases in the cost of provision of a dominant wage good. Copyright 1992 by Oxford University Press.
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