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On the dynamics of an endogenous growth model with learning by doing

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  • Alfred Greiner

Abstract

The paper studies the local dynamics of an endogenous growth model with externalities of investment. It is demonstrated that, in case of sustained per capita growth, the competitve economy is characterized by a situation with a unique balanced growth path which is saddle point stable or by a situation with two balanced growth paths. If there are two balanced growth paths, the one with the higher growth rate is a saddle point whereas the path with the lower growth rate is either completely stable, with convergence to a rest point or limit cycle, or completely unstable. In the social optimum the existence of a balanced growth path implies that it is unique and that this path is a saddle point. Copyright Springer-Verlag Berlin Heidelberg 2003

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  • Alfred Greiner, 2003. "On the dynamics of an endogenous growth model with learning by doing," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 21(1), pages 205-214, January.
    • Handle: RePEc:spr:joecth:v:21:y:2003:i:1:p:205-214
    DOI: 10.1007/s00199-001-0254-7
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    Citations

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    Cited by:

    1. Gaspar, J. & Vasconcelos, P.B. & Afonso, O., 2014. "Economic growth and multiple equilibria: A critical note," Economic Modelling, Elsevier, vol. 36(C), pages 157-160.
    2. Ikhenaode, Bright Isaac & Parello, Carmelo Pierpaolo, 2022. "Migration, technology diffusion and convergence in a two-country AK Growth Model," MPRA Paper 115340, University Library of Munich, Germany.
    3. Tatsuro Iwaisako & Koichi Futagami, 2013. "Patent protection, capital accumulation, and economic growth," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 52(2), pages 631-668, March.
    4. Greiner, Alfred, 2012. "Transition dynamics in an AK growth model under wage rigidity," Mathematical Social Sciences, Elsevier, vol. 63(1), pages 50-56.
    5. Hosoya, Kei, 2012. "Growth and multiple equilibria: A unique local dynamics," Economic Modelling, Elsevier, vol. 29(5), pages 1662-1665.
    6. Frey, Miriam, 2014. "Assessing the Impact of a Carbon Tax in Ukraine," Conference papers 332556, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    7. Carmen Alvarez Albelo & Antonio Manresa, 2005. "Internal Learning By Doing And Economic Growth," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 30(2), pages 1-23, December.
    8. Bouché, Stéphane, 2017. "Learning by doing, endogenous discounting and economic development," Journal of Mathematical Economics, Elsevier, vol. 73(C), pages 34-43.

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