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Luxury-based Growth

Author

Listed:
  • Shiro Kuwahara

    (Graduate School of Economics, Kyoto University)

Abstract

Assuming that there exists a preference for luxury goods and a knowledge spillover from luxury goods production to goods production, this paper constructs an endogenous economic growth model. The model predicts two steady states: one is a steady positive growth state with regard to luxury goods production, and the other is a zero growth state in the absence of luxury goods production. Thus, this study examines the polarization of economies based on luxury goods consumption

Suggested Citation

  • Shiro Kuwahara, 2006. "Luxury-based Growth," Economics Bulletin, AccessEcon, vol. 15(5), pages 1-13.
    • Handle: RePEc:ebl:ecbull:eb-06o10005
    as

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    References listed on IDEAS

    as
    1. Quah, Danny, 1997. "Empirics for growth and distribution," LSE Research Online Documents on Economics 2138, London School of Economics and Political Science, LSE Library.
    2. Corneo, Giacomo & Jeanne, Olivier, 1997. "Conspicuous consumption, snobbism and conformism," Journal of Public Economics, Elsevier, vol. 66(1), pages 55-71, October.
    3. Quah, Danny T., 1996. "Empirics for economic growth and convergence," European Economic Review, Elsevier, vol. 40(6), pages 1353-1375, June.
    4. Yamada, Katsunori, 2008. "Macroeconomic implications of conspicuous consumption: A Sombartian dynamic model," Journal of Economic Behavior & Organization, Elsevier, vol. 67(1), pages 322-337, July.
    5. Danny Quah, 1997. "Empirics for Growth and Distribution," CEP Discussion Papers dp0324, Centre for Economic Performance, LSE.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    JEL classification:

    • O1 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development
    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment

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