Transitional dynamics and indeterminacy of equilibria in an endogenous growth model with a public input
Publication in refereed journal

香港中文大學研究人員

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摘要The authors analyze an endogenous growth model with economy-wide increasing returns, in which a public input is essential for private production. Within such a framework, it is shown that a continuum of equilibria and global indeterminacy can arise for reasonable parameter values, simply due to the presence of endogenous public policy. This can potentially account for "leapfrogging" or retroceding growth experiences. It is demonstrated how fiscal policy can serve as a selection device among different convergent paths.
著者Palivos T., Yip C.K., Zhang J.
期刊名稱Review of Development Economics
出版年份2003
月份2
日期1
卷號7
期次1
出版社Blackwell Publishing Inc.
出版地United Kingdom
頁次86 - 98
國際標準期刊號1363-6669
語言英式英語

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