Contraintes de liquidité et capital humain dans une petite économie ouverte
AbstractIn an overlapping-generations model that represents a small open economy, where agents live two periods, liquidity constraints lead to low economic development when the only accumulable factor is human capital. In the context of multiple equilibria, an underdevelopment trap can result in which the growth rate of the economy and the level of education are low. A financial liberalization policy may lead to improvements in such a situation.
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Bibliographic InfoPaper provided by Bank of Canada in its series Working Papers with number 04-13.
Length: 43 pages
Date of creation: 2004
Date of revision:
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Find related papers by JEL classification:
- I20 - Health, Education, and Welfare - - Education - - - General
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
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