This paper investigates the empirical validity of different classes of 'development trap' models of economic growth …

necessarily realize their latent high growth potential. In the model, at a good equilibrium a large number of children of well …

This paper develops a simple model of optimal growth with renewable resource and endogenous discounting. Relaxing the …

In this paper we develop a multiple equilibria one-sector R&D-based growth model, in which the key aspects are the …. Expectations can lead the economy to either the equilibrium characterised by high-growth and high-interest rates, or to the … equilibrium characterised by low-growth and low-interest rates. Hence, with this model, we wish to contribute to endogenous growth …

growth potential. In the model, at a good equilibrium a large number of children of well-educated parents take advantage of …

We develop a simple growth model with imperfect competition in which demand conditions can affect the dynamics of … capital accumulation, hindering or enhancing growth. In our model the elasticity of the demand schedule faced by a typical … to those found in the perfectly competitive one-sector growth model: there is a unique stationary equilibrium which is …

This paper uses a modified Harrodian model to understand both the long period of rapid Japanese growth and the recent … period of stagnation. The model has multiple steady-growth solutions when the labour supply is highly elastic, and government … intervention, we argue, took the Japanese economy onto a high-growth trajectory. Labour constraints began to ap- pear around 1970 …

The paper investigates the local dynamics of a simple growth model with a public health factor. A notable feature of … contributes to labor productivity growth. From a three-dimensional dynamic system that includes physical capital, public health … undiversified growth pattern when converging on high- and low-growth equilibria. Our striking result has important implications in …