南北の不均等発展について(II) : 資本の地域間移動を考慮した場合

概要

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Krugman showed the uneven development in his North-South model assuming increasing return production technology. His theory was very powerful, however, it was not based on strict microeconomic foundations. The purpose of this paper is to re-examine this theory assuming profit-maximizing behavior of individuals. Capital mobility is assumed. One can invest his capital to any countries or any firms where the interest rates are higher. Thus determined short-run equilibrium is stable under a mild assumption. At the long-run equilibrium, North and South have equal amount of capitals. However, if capital is not mobile across the countries, then the uneven development results as in Krugman's model. We also derived the possibility of uneven development under the assumption of capital mobility, if the external effect increases the marginal productivity of each firm.
関西学院大学の論文
1999-12-31