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Cross-Country Growth Rates. A Testable Pre¬dator-Prey Model G

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  • Travaglini, Guido

    (Istituto di Economia e Finanza (Institute of Economics and Finance) Facoltà di Giurisprudenza (Faculty of Law) Università degli Studi di Roma)

Abstract

A dynamic GDP growth-optimizing program with a predator-prey and discrete logistic growth constraint is introduced and empirically tested f or a few major countries. Its Euler equation representation is derived in order to examine the degrees of international dependence, convergence, stability and time drift. It is shown that dependence is crucial to each country ‘s growth and that convergence relative to the US, albeit different among countries, takes place due both to a negative time drift in the TJS and a positive one elsewhere. Probably this is due to the discount rate of some countries that value future more than present. Certainly, most countries have attained GDP growth rates and levels higher than predicted by their own optimizing programs.

Suggested Citation

  • Travaglini, Guido, 1994. "Cross-Country Growth Rates. A Testable Pre¬dator-Prey Model G," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 47(2-3), pages 253-265.
    • Handle: RePEc:ris:ecoint:0422
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