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Contraintes de liquidité et capital humain dans une petite économie ouverte

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Author Info
Florian Pelgrin
Abstract

In 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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File URL: http://www.bankofcanada.ca/en/res/wp/2004/wp04-13.pdf
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Paper provided by Bank of Canada in its series Working Papers with number 04-13.

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Length: 43 pages
Date of creation: 2004
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Handle: RePEc:bca:bocawp:04-13

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Related research
Keywords: Economic models

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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