Suppose the Cobb-Douglas production function given in equation 4-1 applies to a developing country. Instead of thinking
Question:
(a) How does an increase in FDI affect labor productivity in the developing country? How will wages respond in the short-run?
(b) What are the long-run implications of FDI, especially in terms of potential future immigration from the developing country?
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a FDI is an increase in capital K As equation 45 shows the marginal prod...View the full answer
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