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Economic Integration and Growth under Intergenerational Financing of Human Capital Formation

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  • Michel, P.
  • Vidal., J.-P.

Abstract

This paper examines the patterns of economic integration and endogenous growth in a two-country overlapping generations world in which the formation of human capital is driven by intergenerational paternalistic altruism. It explores the influence of cross-border external effects in human capital on growth. Interestingly, world integration can enhance (reduce) long-run growth in both countries if cross-border external effects in human capital are strong enough (too weak).

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Bibliographic Info

Paper provided by Faculty of Economics, University of Cambridge in its series Cambridge Working Papers in Economics with number 9809.

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Date of creation: 1998
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Handle: RePEc:cam:camdae:9809

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  1. Caballe, J., 1991. "Endogeneous Growth, Human Capital and Bequests in a Life-Cycle Model," UFAE and IAE Working Papers 158.91, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
  2. Barro, R. & Mankiw, G., 1992. "Capital Mobility in Neoclassical Models of Growth," Harvard Institute of Economic Research Working Papers 1615, Harvard - Institute of Economic Research.
  3. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
  4. Buiter, Willem H, 1981. "Time Preference and International Lending and Borrowing in an Overlapping-Generations Model," Journal of Political Economy, University of Chicago Press, vol. 89(4), pages 769-97, August.
  5. Mankiw, N Gregory & Romer, David & Weil, David N, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, MIT Press, vol. 107(2), pages 407-37, May.
  6. Buiter, Willem H & Kletzer, Kenneth, 1991. "Persistent Differences in National Productivity Growth Rates with a Common Technology and Free Capital Mobility," CEPR Discussion Papers 542, C.E.P.R. Discussion Papers.
  7. Galor, Oded, 1986. "Time preference and international labor migration," Journal of Economic Theory, Elsevier, vol. 38(1), pages 1-20, February.
  8. Rivera-Batiz, Luis A. & Romer, Paul M., 1991. "International trade with endogenous technological change," European Economic Review, Elsevier, vol. 35(4), pages 971-1001, May.
  9. Chamley, Christophe, 1992. "The last shall be first: Efficient constraints on foreign borrowing in a model of endogenous growth," Journal of Economic Theory, Elsevier, vol. 58(2), pages 335-354, December.
  10. Glomm, Gerhard & Ravikumar, B, 1992. "Public versus Private Investment in Human Capital Endogenous Growth and Income Inequality," Journal of Political Economy, University of Chicago Press, vol. 100(4), pages 818-34, August.
  11. Vidal, Jean-Pierre, 2000. "Capital Mobility in a Dynastic Framework," Oxford Economic Papers, Oxford University Press, vol. 52(3), pages 606-25, July.
  12. Paul A. Samuelson, 1958. "An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money," Journal of Political Economy, University of Chicago Press, vol. 66, pages 467.
  13. Temple, Jonathan, 1999. "A positive effect of human capital on growth," Economics Letters, Elsevier, vol. 65(1), pages 131-134, October.
  14. Rangazas, Peter C, 1996. "Fiscal Policy and Endogenous Growth in a Bequest-Constrained Economy," Oxford Economic Papers, Oxford University Press, vol. 48(1), pages 52-74, January.
  15. Crettez, B. & Michel, P. & Vidal, J.P., 1996. "Time Preference and Factor Mobility in an OLG Model with Land," G.R.E.Q.A.M. 96a02, Universite Aix-Marseille III.
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Cited by:
  1. de la Croix, David & Monfort, Philippe, 1999. "Education Funding and Regional Convergence," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 1999010, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
  2. Marion Davin & Karine Gente & Carine Nourry, 2011. "Social Optimum in an OLG Model with Paternalistic Altruism," Working Papers halshs-00644094, HAL.

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