Phases of Economic Development: Do Initial Endowments Matter?
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Phases of Economic Development: Do Initial Endowments Matter?Fecha
2012Centro/Dpto/Entidad
Departamento de Economía Aplicada IICita bibliográfica
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
Resumen
[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.
Palabras clave
Endogenous growth
Transitional dynamics
Innovation
Education
Transitional dynamics
Innovation
Education
Descripción
The final publication is available at www.degruyter.com
Versión del editor
ISSN
1935-1690