Growth versus welfare in a model of nonrival infrastructure

• 成果类型: Article
• 署名作者: Dasgupta, D
• 署名单位: Indian Statistical Institute; Indian Statistical Institute Delhi
• 刊物名称: JOURNAL OF DEVELOPMENT ECONOMICS
• ISSN/ISSBN: 0304-3878
• DOI: 10.1016/S0304-3878(98)00127-8
• 发表日期: 1999
• 页码: 359-385
• 关键词: endogenous growth; INEFFICIENCY; infrastructure; nonrival input; Optimal tax; STABILITY

摘要

The paper constructs a model of endogenous growth where infrastructure acts as an accumulable stock generating a nonrival input service. Steady state growth paths are studied for Market and Command Economies. In the former, a final good is produced privately and, as in many developing economies, infrastructure accumulated on noncompetitive basis by the State. The Command Economy allocates resources by solving a grand optimization exercise. The transitionally stable steady growth rate for the Market Economy dominates the Command Economy growth rate due to the joint presence of noncompetitive behaviour by the State and noninternalizable externalities. (C) 1999 Elsevier Science B.V. All rights reserved. JEL classification: O41; H54; H41; H21; D61.