Lucas on Economic Development

• 成果类型: Article; Early Access
• 署名作者: Stokey, Nancy L.
• 署名单位: University of Chicago
• 刊物名称: JOURNAL OF POLITICAL ECONOMY
• ISSN/ISSBN: 0022-3808
• DOI: 10.1086/738002
• 发表日期: 2025
• 关键词: increasing returns; AGGREGATIVE MODEL; diffusion; GROWTH; ORGANIZATION; KNOWLEDGE; PRODUCTIVITY; INEQUALITY; earnings; TRADE

摘要

In his work on economic development, Lucas's goals were to understand the enormous diversity across countries in levels and growth rates of per capita income and to build a framework for studying developing economies with the same kind of precision and rigor that the neoclassical growth model had brought to the study of already industrialized countries. Lucas found knowledge spillovers to be a key mechanism. Thus, human capital, which he viewed broadly, is at the center of much of his work, and external effects are crucial. Lucas stated explicitly that in his view, physical capital plays a distinctly secondary role.