Phases of Economic Development: Do Initial Endowments Matter?
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http://hdl.handle.net/2183/13934Collections
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Phases of Economic Development: Do Initial Endowments Matter?Date
2012Center/Dept./Entity
Departamento de Economía Aplicada IICitation
Gómez, Manuel A. and Sequeira, Tiago N. (2012), Phases of economic development: Do initial endowments matter?, B.E. Journal of Macroconomics 12 (1) (Topics). DOI: 10.1515/1935-1690.2401
Abstract
[Abstract] Different industrializing experiences beginning on innovation or education could be explained not only by different structural parameters or policies but also by differences in factor endowments. In this paper, we consider an endogenous growth model with physical capital, human capital and R&D. We show that the initial endowments can determine the sequence of the phases of development that the economy follows; in particular, whether innovation precedes education or viceversa.
Keywords
Endogenous growth
Transitional dynamics
Innovation
Education
Transitional dynamics
Innovation
Education
Description
The final publication is available at www.degruyter.com
Editor version
ISSN
1935-1690