| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP3335 |
| DP3335 Trapped, Delayed and Handicapped | |
| Susanna Sällström; Anna Sjogren | |
| 发表日期 | 2002-04-20 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | We outline six facts that should be explained by an international growth model: 1) Conditional convergence; 2) cross-country dispersion of growth rates; 3) cross-country dispersion of per capita income levels; 4) cross-country dispersion of savings rates; 5) within country correlation of savings and investment and 6) cross-country equality of real rates of interest. We argue that the neoclassical model performs poorly in several dimensions and we provide an alternative two-sector endogenous growth model based on the work of Lucas and Romer that can account for all of our stylized facts. Our model accounts for the observation that poor countries grow faster than rich ones (fact number 1) as a consequence of the transitional dynamics of the ratio of physical to human capital. We show that opening capital mobility across countries does not necessarily equate the physical to human capital ratios across countries despite the resultant equalization of factor prices. |
| 主题 | International Macroeconomics |
| 关键词 | Endogenous growth Interdependent world economy |
| URL | https://cepr.org/publications/dp3335 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/532358 |
| 推荐引用方式 GB/T 7714 | Susanna Sällström,Anna Sjogren. DP3335 Trapped, Delayed and Handicapped. 2002. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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