What does the 3-Goods Model say about a Developing Country's Terms of Trade?

Unizik Journal of Economic Studies, 11(1), 121-127, 2014

8 Pages Posted: 17 Jan 2019

See all articles by Ebele Nwokoye

Ebele Nwokoye

Nnamdi Azikiwe University - Department of Economics

Date Written: March 8, 2014

Abstract

This paper adds to the literature in the field of development economies; it takes a look at the clear distinction between the advanced economies and the less development economies in terms of their production structures and notes that these stylized distinctions make a case for different approaches for finding solutions to economic shocks and distortions. A model of economic growth in a developing economy with 3 goods: exportable, importable and non-tradable goods is discussed herein as being appropriate for determining the production function of a less developed country, Nigeria inclusive.

Keywords: 3-goods model, advanced economies, dutch disease, less developed, production function, terms of trade

Suggested Citation

Nwokoye (nee Nwabude), Ebele, What does the 3-Goods Model say about a Developing Country's Terms of Trade? (March 8, 2014). Unizik Journal of Economic Studies, 11(1), 121-127, 2014. Available at SSRN: https://ssrn.com/abstract=3312122

Ebele Nwokoye (nee Nwabude) (Contact Author)

Nnamdi Azikiwe University - Department of Economics ( email )

Enugu-Onitsha Expressway
Nnamdi Azikiwe University
Awka, Anambra
Nigeria

HOME PAGE: http://www.unizik.edu.ng/profile/nwokoyees

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