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characteristics, i.e. fundamental forces, against the alternative that there are poverty traps. Taking geographical variables as … fundamental characteristics, we find that we can reject fundamental forces in favor of a poverty trap model with high and low …
Persistent link: https://www.econbiz.de/10012470001
We document regularities in the distribution of relative incomes and patterns of investment in countries and over time. We develop a quantitative version of the neoclassical growth model with a broad measure of capital in which investment decisions are affected by distortions. These distortions...
Persistent link: https://www.econbiz.de/10012473450