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Spatial dynamics and convergence: the spatial AK model

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  • Raouf BOUCEKKINE

    () (UNIVERSITE CATHOLIQUE DE LOUVAIN, Department of Economics and Core, Univerity of Glasgow, Department of Economics)

  • Carmen CAMACHO

    () (UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES) and FNRS)

  • Giorgio FABBRI

    () (Dipartimento di Studi Economici S.Vinci, Universita di Napoli Parthenope,Naples and UNIVERSITE CATHOLIQUE DE LOUVAIN, Institut de Recherches Economiques et Sociales (IRES))

Abstract

We study the optimal dynamics of an AK economy where population is uniformly distributed along the unit circle. Locations only differ in initial capital endowments. Despite constant returns to capital, we prove that transition dynamics will set in. In particular, we prove that the spatio-temporal dynamics, induced by the willingness of the planner to give the same (detrended) consumption over space and time, lead to convergence in the level of capital across locations in the long-run.

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Bibliographic Info

Paper provided by Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES) in its series Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) with number 2010009.

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Length: 21
Date of creation: 16 Mar 2010
Date of revision:
Handle: RePEc:ctl:louvir:2010009

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Keywords: Economic Growth; Inequality; Spatial Dynamics; Convergence;

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  1. Chatterjee, Satyajit, 1994. "Transitional dynamics and the distribution of wealth in a neoclassical growth model," Journal of Public Economics, Elsevier, vol. 54(1), pages 97-119, May.
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Cited by:
  1. Brito, Paulo, 2011. "Global endogenous growth and distributional dynamics," MPRA Paper 41653, University Library of Munich, Germany.
  2. Carmen Camacho & Agustín Pérez-Barahona, 2012. "Land use dynamics and the environment," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00674020, HAL.
  3. Raouf Boucekkine & Giorgio Fabbri & Patrick-Antoine Pintus, 2011. "On the optimal control of a linear neutral differential equation arising in economics," Working Papers halshs-00576770, HAL.

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