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to knowledge creation, a feature based on endogenous growth theory. We analyze the link from resource income future …
Persistent link: https://www.econbiz.de/10005481973
This paper examines the time path of consumption and asset ownership in a small open economy. Productive physical capital is borrowed when limited liability firms write debt contracts with foreign lenders. We study three lending regimes and find that when contracts favor domestic agents over...
Persistent link: https://www.econbiz.de/10005481984
that the impact of higher inequality on the aggregate human capital stock, and thus, on growth is positive under rather …
Persistent link: https://www.econbiz.de/10005481990
We investigate the causal links between human capital, openness through trade and FDI, and economic growth using …-led growth and export-led growth, as well as the reverse linkages from growth to FDI and exports. The importance of human capital …, after controlling for domestic investment, government expenditure and imports, support for FDI-led growth is not as strong …
Persistent link: https://www.econbiz.de/10005481992
We discuss the role of contracting impediments created by the existence of national borders on open economy growth. In … a two-good neoclassical Ramsey growth model with lack of enforcement on international trade contracts we show that … many researchers believe, international trade affects growth by increasing investment rates. The model provides a new …
Persistent link: https://www.econbiz.de/10005481995
Countries rich in natural resources constitute both growth losers and growth winners. We claim that the main reason for …
Persistent link: https://www.econbiz.de/10005482003
mineral stocks on public revenues, labour movements between sectors, and economic growth in an attempt to elucidate the poor …
Persistent link: https://www.econbiz.de/10005482017
productivity of the sector producing the infrastructure. We show that this economy displays perpetual growth whenever the share of … conditions under which the tax rate is growth maximizing. …
Persistent link: https://www.econbiz.de/10011123942
We introduce wage setting via efficiency wages in the neoclassical one-sector growth model to study the growth effects … that the model with wage inertia can explain some growth patterns that cannot be explained when wages are flexible. We also … study the growth effects of permanent technological and fiscal policy shocks in these two economies. During the transition …
Persistent link: https://www.econbiz.de/10011123962
growing economy, that is when population growth is optimal in the long-run, this egalitarian rule can only hold when the …
Persistent link: https://www.econbiz.de/10011123975