Multiple transitional growth paths in endogenously growing open economies

• 成果类型: Article
• 署名作者: Meng, QL
• 署名单位: Chinese University of Hong Kong
• 刊物名称: JOURNAL OF ECONOMIC THEORY
• ISSN/ISSBN: 0022-0531
• DOI: 10.1016/S0022-0531(03)00025-5
• 发表日期: 2003
• 页码: 365-376
• 关键词: Indeterminacy; small open economies; endogenous growth

摘要

This paper extends research in indeterminacy literature to a small open economy, two-sector endogenous growth model. It shows that a continuum of equilibria exist in two situations, (i) the production functions exhibit social constant returns to scale with very small or even negligible externalities; and (ii) the production functions are standard constant returns to scale without externalities but the government implements asymmetric tax policies across sectors. (C) 2003 Elsevier Science (USA). All rights reserved.