; ; ; "ActiveFedora::Aggregation::ListSource" . a , ; "Paths of Development for Early- and Late-Bloomers in a Dynamic Heckscher-Ohlin Model"; ; "batchuser@example.com"; "Kehoe, Patrick J.", "Atkeson, Andrew"; "Federal Reserve Bank of Minneapolis"; "Two Sector Growth Models", "Convergence Trade and Growth"; "O11 - Macroeconomic Analyses of Economic Development", "F11 - Neoclassical Models of Trade", "O41 - One, Two, and Multisector Growth Models"; "We show that in a dynamic Heckscher-Ohlin model the timing of a country’s development relative to the rest of the world affects the path of the country’s development. A country that begins the development process later than most of the rest of the world—a late-bloomer—ends up with a permanently lower level of income than the early-blooming countries that developed earlier. This is true even though the late-bloomer has the same preferences, technology, and initial capital stock that the early-bloomers had when they started the process of development. This result stands in stark contrast to that of the standard one-sector growth model in which identical countries converge to a unique steady state, regardless of when they start to develop."^^; "2000-09"; "2019-08-19T19:32:50.207212486+00:00"^^; "https://doi.org/10.21034/sr.256"; ; "https://creativecommons.org/licenses/by-nc/4.0/"; "Thu Nov 7 21:59:57 2019"; "https://creativecommons.org/licenses/by-nc/4.0/"; "Research Paper"; "393", "39"; "Staff report (Federal Reserve Bank of Minneapolis. Research Department)"; "256"; "Two Sector Growth Models", "Convergence Trade and Growth"; ; ; ; ; "Federal Reserve Bank of Minneapolis. Research Department"; ; "Publication" . ; .