Qayyum, Unbreen; Musleh ud, Din; Haider, Adnan - Volkswirtschaftliche Fakultät, … - 2012
This paper presents a theoretical model for governance. Specifically, the Ramsey-Cass-Koopman's growth model has been … extended by incorporating governance in an open economy framework. Steady-state and short run analysis show that external debt … governance encourage the economic growth but external debt creates a burden on the economy. Both Investment and saving are …