Zilibotti, F. (1993) A Rostovian model of endogenous growth and underdevelopment traps. CEPDP (166). London School of Economics and Political Science. Centre for Economic Performance, London, UK.
Full text not available from this repository.Abstract
The paper presents a model which combines self-sustained growth and ''underdevelopment traps'' into a common analytical framework. The objective is to given an analytical interpretations to Rostow''s observation that there is a ''decisive interval in the history of a society when growth becomes its normal condition'' and to the empirical evidence that some countries seem not to have achieved this stage yet. The model exhibits aggregate non-convexities and thresholds which separate a region where growth is ''Solow-type'', with convergence to a stationary steady-state from region where growth is ''Romer-type'' , with endogenous self-sustained growth. In some critical stages of development multiple equilibrium trajectory may exist, consistent with alternative sets of self-fulfilling beliefs.
| Item Type: | Monograph (Discussion Paper) |
|---|---|
| Official URL: | http://cep.lse.ac.uk |
| Additional Information: | © 1993 F.Zilibotti |
| Divisions: | Centre for Economic Performance |
| Subjects: | H Social Sciences > HB Economic Theory |
| Date Deposited: | 19 Aug 2008 10:30 |
| Last Modified: | 15 Sep 2023 22:40 |
| URI: | http://eprints.lse.ac.uk/id/eprint/20942 |
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