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We study the dynamic output and welfare effects of public infrastructure investment under a balanced budget fiscal rule, using an overlapping generations model of a small open economy. The government finances public investment by employing distortionary labor taxes. We find a negative short-run...
Persistent link: https://www.econbiz.de/10011090750
The paper studies the dynamic output effects of public infrastructure investment in a small open economy. We develop an overlapping generations model that includes a production externality of public capital and a wealth effect on labor supply. Public capital enters the firm's production function...
Persistent link: https://www.econbiz.de/10011090760
This paper aims to determine whether there is any convergence at all between the economic activities of the Colombian … Cundinamarca and Antioquia examples of outstanding performance. This way, it is concluded that there is convergence between the … Colombian municipalities for the period analyzed, reaching an approximate convergence speed of 3.34% per annum. …
Persistent link: https://www.econbiz.de/10011258663
preferential policies. The neoclassical hypothesis of convergence is also tested. Indications of unconditional convergence does … occur during the periods 1985-2000 and 1985-1990. In addition, conditional convergence is found during the sub-period 1990 …
Persistent link: https://www.econbiz.de/10005424027
We investigate the convergence process among EU regions between 1980-2002 taking into account the effects of spatial …
Persistent link: https://www.econbiz.de/10010985102
We investigate the convergence process among EU regions between 1980-2002 taking into account the effects of spatial …
Persistent link: https://www.econbiz.de/10005320486
European integration leads to convergence as well as divergence between the countries included in the integration … process. For example, increased technological spillovers lead to convergence of the production processes used in the EU … European member states, and also it’s attempting to analyze the empirical patterns of convergence and divergence. Our aim is to …
Persistent link: https://www.econbiz.de/10005607447
This paper reviews the literature on the Middle Income Trap and compares Turkey to the rest of the trapped and non-trapped (non-middle income trapped) countries. We analyze country experiences by focusing on the role of well-designed and high quality education system to avoid the trap. When we...
Persistent link: https://www.econbiz.de/10010941483
The effectiveness of The Maastricht Treaty (MT) to induce economic convergence in the area was questionable after some … income convergence in the Eurozone and compare it with Association of Southeast Asian Nation (ASEAN). Employing panel … analysis, the purpose of this study is to comparatively analyze the income convergence with MC as control variables in the …
Persistent link: https://www.econbiz.de/10010942948
interesting to examine whether there is any convergence in the economic growth of the Indian states or not. The findings of … present study indicates the convergence of per capita income in the pre reform period, while in the post reform period it …
Persistent link: https://www.econbiz.de/10010928108