Threshold Externalities in Economic Development
Standard one-sector growth models often have the counterfactual implication that economies with access to similar technologies will converge to a common balanced growth path. The authors propose an elaboration of the Diamond model that permits multiple, locally stable stationary states. This multiplicity is due to increasing social returns to scale in the accumulation of human capital. Copyright 1990, the President and Fellows of Harvard College and the Massachusetts Institute of Technology.
Volume (Year): 105 (1990)
Issue (Month): 2 (May)
|Contact details of provider:|| Web page: http://mitpress.mit.edu/journals/|
|Order Information:||Web: http://mitpress.mit.edu/journal-home.tcl?issn=00335533|
When requesting a correction, please mention this item's handle: RePEc:tpr:qjecon:v:105:y:1990:i:2:p:501-26. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Anna Pollock-Nelson)
If references are entirely missing, you can add them using this form.