An endogenous growth model with expanding ranges of consumer goods and producer durables

• 成果类型: Article
• 署名作者: Xie, DY
• 署名单位: Hong Kong University of Science & Technology
• 刊物名称: INTERNATIONAL ECONOMIC REVIEW
• ISSN/ISSBN: 0020-6598
• DOI: 10.2307/2527301
• 发表日期: 1998
• 页码: 439-460
• 关键词: International Capital Flows; transitional dynamics; indeterminacy; INVESTMENT

摘要

This paper constructs a growth model with the feature that the range of differentiated consumption goods and the range of specialized producer durables are both endogenously determined. I show that this feature allows the domestic investment rate to be closely associated with the domestic saving rate even when international financial markets are integrated. I also argue that this feature is important in explaining the observed cross-country diversity in growth performance and saving behavior.