Adjustment Costs and Immiserizing Growth in LDCs
Using a general equilibrium model of a small developing economy, the authors demonstrate that the introduction of asymmetric adjustment costs makes the rate of urban employment respond to an exogenous shock in the aggregate capital endowment, raising the possibility of several counter-intuitive immiserizing growth scenarios. Copyright © 2008 The Authors. Journal compilation © 2008 Blackwell Publishing Ltd.
Year of publication: |
2008
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Authors: | Sarker, Sanjib ; Gilbert, John ; Oladi, Reza |
Published in: |
Review of Development Economics. - Wiley Blackwell. - Vol. 12.2008, 4, p. 779-791
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Publisher: |
Wiley Blackwell |
Saved in:
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