NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Measureable Dynamic Gains from Trade

Richard Baldwin

NBER Working Paper No. 3147*
Issued in October 1989
NBER Program(s):   LS

Productive factors such as human and phyaical capital are accumulated and trade can affect the steady-state levels of such factors. Consequently, trade

liberalization will have dynamic effects on output and welfare as the economy

moves to its new steady state, in addition to its usual static effects. The

output impact of this dynamic effect is measurable and appears to be quite

large. The welfare impact of this dynamic effect is also measurable. The size

of this dynamic gain from trade depends on the importance of external scale

economies.

*Published: Journal of Political Economy, Vol. 100, issue 1, pp. 162-174, 1992.

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