Kumar, Ronald Ravinesh; Stauvermann, Peter; Wernitz, Frank - In: Journal of risk and financial management : JRFM 15 (2022) 1, pp. 1-22
The aim of the study is to investigate the influence of the capitalist spirit in conjunction with the distribution of income on economic growth. The capitalist spirit is represented by the fact that savings rates increase with increasing relative income. We extend an endogenous AK growth model...
