Retirement saving and development traps

• 成果类型: Article
• 署名作者: Ren, LQ; Rangazas, P
• 署名单位: Indiana University System; Indiana University Indianapolis; University of Chicago
• 刊物名称: JOURNAL OF DEVELOPMENT ECONOMICS
• ISSN/ISSBN: 0304-3878
• DOI: 10.1016/S0304-3878(02)00080-9
• 发表日期: 2003
• 页码: 119-132
• 关键词: development traps; Retirement saving; work-life

摘要

This paper establishes the existence of multiple equilibria that help explain why some countries remain poor and diverge from the economic progress experienced by rich countries. Endogenous growth models cannot explain the negative correlation between work-lives and long-run growth rates. Extending growth models to explain this negative correlation leads to multiple equilibria; one with long work-lives and low rates of growth and another with short work-lives and high rates of growth. (C) 2002 Elsevier Science B.V All rights reserved.