Kitaura, Koji; Ogawa, Hikaru; Yakita, Sayaka - In: Journal of Macroeconomics 33 (2011) 4, pp. 819-827
This paper presents a neoclassical growth model comprising education and child labor with a focus on developing and aid-receiving countries to demonstrate cyclical growth and bifurcation in economic development. The appearance of multiple equilibria has often been attributed to the internal...