Petrakis, Panayiotis; Kotsios, Stylianos - In: Economics Bulletin 15 (2005) 7, pp. 1-8
The paper is concerned with structural change in the growth process and the role of uncertainty. Uncertainty is … stochastic model of continuous-time growth is proposed. The paper concludes that uncertainty affects economic growth and the rate … of returns, and causes structural changes in portfolio shares of the two types of entrepreneurial events. Structural …