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Growth and International Investment with Diverging Populations

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  • Deardorff, Alan V

Abstract

A two-country, neoclassical growth model is examined, in which the countries populations grow at different rates Individually modeled like the Solow one-sector growth model but with perfectly mobile capital between them. the two countries behave quite differently from the Solow model. The slower growing country may, if it saves enough, grow exponentially in per capita terms, and its rate of growth depends on its savings propensity. It may even acquire a permanently positive fraction of world capital. If it does, the world then behaves like Pasinetti's two-class growth model, where savings of the capitalist class (here, the more slowly growing population) alone determines the steady-state returns to capital. Copyright 1994 by Royal Economic Society.

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  • Deardorff, Alan V, 1994. "Growth and International Investment with Diverging Populations," Oxford Economic Papers, Oxford University Press, vol. 46(3), pages 477-491, July.
    • Handle: RePEc:oup:oxecpp:v:46:y:1994:i:3:p:477-91
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    Cited by:

    1. Long, N.V. & Wong, K.Y., 1996. "Endogenous Growth and International Trade: A Survey," Discussion Papers in Economics at the University of Washington 96-07, Department of Economics at the University of Washington.
    2. Deardorff, Alan V., 2013. "Growth or decline of comparative advantage," Journal of Macroeconomics, Elsevier, vol. 38(PA), pages 12-18.
    3. Tosun, Mehmet Serkan, 2008. "Endogenous fiscal policy and capital market transmissions in the presence of demographic shocks," Journal of Economic Dynamics and Control, Elsevier, vol. 32(6), pages 2031-2060, June.

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