Specialization on a technologically atagnant aector need not be bad for growth

Arbeitspapier

This paper presents a simple North-South model of endogenous growth, based on learning by doing, which is consistent with the following empirical observations: (i) the price of investment goods relative to consumption goods has been falling for the last 40 years in most industrialized countries, (ii) poor countries are net importers of investment equipment and (iii) after a period of initial convergence, the sample of open economies exhibits remarkable stability of the per capita income distribution. In contrast to the research tradition started by Lucas (1988), in the proposed model, specialization on the technologically stagnant consumption sector does not entail a growth penalty.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Series: Working Paper ; No. 0402

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Economic Growth of Open Economies ; One, Two, and Multisector Growth Models
• Thema: endogenous growth ; AK model ; international trade ; embodied technical change ; Nord-Süd-Beziehungen ; Internationale Arbeitsteilung ; Neue Wachstumstheorie ; Schrumpfungsbranche ; Mehr-Sektoren-Modell ; Lernprozess ; Entwicklungskonvergenz ; Theorie

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Felbermayr, Gabriel
• Ereignis: Veröffentlichung
• (wer): Johannes Kepler University of Linz, Department of Economics
• (wo): Linz
• (wann): 2004

Weitere Informationen

• Handle: http://hdl.handle.net/10419/73216
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ