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Biased innovations in the Harrod-Domar model

  • Hernando Zuleta

    ()

This paper presents an endogenous growth model where the aggre- gate production function is a Leontief (1941) and long run growth is completely explained through biased technological change. Under this framework we get two results: (i) if the income share of reproducible factors is high enough, in the long run the economy presents a positive balanced growth path; (ii) if the in- come share of reproducible factors is low, in the long run the economy behaves as a Harrod-Domar economy without long run growth. **************************************************************************************************************** En este art�culo se presenta un modelo de crecimiento donde la funci�n de producci�n es del tipo Leontief (1941), la tasa de ahorro es end�gena y el crecimiento de largo plazo es explicado por cambio tecnol�gico sesgado. En este entorno se obtienen dos resultados: (i) si la participaci�n de los factores reproducibles en el producto es suficientemente alta, en el largo plazo la econom�a presenta una senda de crecimiento balanceado; (ii) si, en cambio, la participaci�n de los factores reproducibles es baja, en el largo plazo no hay crecimiento y la econom�a se comporta al estilo Harrod-Domar.

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Article provided by UNIVERSIDAD DEL ROSARIO in its journal REVISTA DE ECONOMÍA DEL ROSARIO.

Volume (Year): (2007)
Issue (Month): (December)
Pages:

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Handle: RePEc:col:000151:004424
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