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Convergence, productivity and debt : the case of Hungary
Baksa, Dániel; Kónya, István - 2019
We study the role of productivity convergence and financial conditions in the recent growth experience of Hungary. We … build a stochastic, small-open economy growth model with productivity convergence, capital accumulation and external …
Persistent link: https://www.econbiz.de/10012107277
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Capital flows and endogenous growth
Komarov, Evgenij - 2021 - This version: November 18, 2021
So-called "uphill capital flows", i.e. flows of physical capital from relatively poor to rich countries, are a new phenomenon with yet unclear impact. We develop a unified framework incorporating economic institutions, human capital and physical capital to study the interaction of international...
Persistent link: https://www.econbiz.de/10012696550
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Capital flows to developing countries : is there an allocation puzzle?
Schroth, Josef - 2016
Foreign direct investment inflows are positively related to growth across developing countries - but so are savings in excess of investment. I develop an explanation for this well-established puzzle by focusing on the limited availability of consumer credit in developing countries together with...
Persistent link: https://www.econbiz.de/10011567685
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A multi-factor Uzawa growth theorem and endogenous capital-augmenting technological change
Casey, Gregory; Horii, Ryo - 2019 - This version: March 28, 2019
We prove a generalized, multi-factor version of the Uzawa steady-state growth theorem. In the two-factor case, the theorem implies that a neoclassical growth model cannot be simultaneously consistent with empirical evidence on both capital-augmenting technical change and the elasticity of...
Persistent link: https://www.econbiz.de/10012024717
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A generalized Uzawa growth theorem and capital-augmenting technological change
Casey, Gregory; Horii, Ryo - 2022
We prove a generalized, multi-factor version of the Uzawa steady-state growth theorem. The theorem implies that neoclassical growth models need at least three factors of production to be consistent with empirical evidence on both the capital-labor elasticity of substitution and the existence of...
Persistent link: https://www.econbiz.de/10012880053
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A generalized Uzawa growth theorem
Casey, Gregory; Horii, Ryo - 2023
We prove a generalized, multi-factor version of the Uzawa steady-state growth theorem, Balanced growth with capital-augmenting technical change is possible when capital has a unitary elasticity of substitution with at least one other factor of production, Thus, a neoclassical growth model with...
Persistent link: https://www.econbiz.de/10014451890
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Endogenous capital-augmenting technological change
Casey, Gregory; Horii, Ryo - 2023
We construct a 3-factor, directed technical change growth model that ex-hibits capital-augmenting technical change on the balanced growth path (BGP), circumventing the issues usually caused by the 2-factor Uzawa growth theorem. We calibrate the model to the United States and consider a...
Persistent link: https://www.econbiz.de/10014451921
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Transition, integration and convergence : the case of Romania
Iancu, Aurel - 2010
-economic system of European type: transition to the market economy, accession to the EU, the economic convergence in the three … perspective assessment to find out the real and nominal convergence. Putting into practice the EU competitivity and cohesion …. Although the real convergence of Romania with the EU requires higher growth rates for the former, a new approach is compulsory …
Persistent link: https://www.econbiz.de/10010529088
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Real convergence and integration
Iancu, Aurel - 2009
The study is based on the critical observations that competitive market forces alone are not able to assure convergence … member countries. Our paper deals with the evolution of the EU cohesion funds, as well as with the results of convergence …. * Study within the CEEX Programme Project No. 220/2006 Economic Convergence and Role of Knowledge in Relation to the EU …
Persistent link: https://www.econbiz.de/10010529091
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Environmental policy in a two sector growth model
Hettich, Frank; Svane, Minna Selene - 1998
This paper analyses policy measures within a two sector endogenously growing economy with pollution. Pollution is either generated by production or by the use of physical capital in production, and can be reduced by public abatement activities. In this generalized Uzawa Lucas model, the effects...
Persistent link: https://www.econbiz.de/10011535679