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On Convergence in the Spatial AK Growth Models

  • Gani Aldashev
  • Serik Aldashev
  • Timoteo Carletti

Recent research in economic theory attempts to study optimal economic growth and spatial location of economic activity in a unified framework. So far, the key result of this literature - asymptotic convergence, even in the absence of decreasing returns to capital - relies on specific assumptions about the objective of the social planner. We show that this result does not depend on such restrictive assumptions and obtains for a broader class of objective functions. We also generalize this finding, allowing for the time-varying technology parameter, and provide an explicit solution for the dynamics of spatial distribution of the capital stock.

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Paper provided by in its series Papers with number 1401.4887.

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Date of creation: Jan 2014
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Handle: RePEc:arx:papers:1401.4887
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  1. PierrePhilippe Combes & Gilles Duranton & Laurent Gobillon & Diego Puga & Sébastien Roux, 2009. "The Productivity Advantages of Large Cities: Distinguishing Agglomeration from Firm Selection," SERC Discussion Papers 0027, Spatial Economics Research Centre, LSE.
  2. Comin, Diego & Dmitriev, Mikhail & Rossi-Hansberg, Esteban, 2012. "The Spatial Diffusion of Technology," CEPR Discussion Papers 9208, C.E.P.R. Discussion Papers.
  3. Raouf Boucekkine & Carmen Camacho & Giorgio Fabbri, 2013. "Spatial dynamics and convergence: The spatial AK model," Documents de travail du Centre d'Economie de la Sorbonne 13047, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
  4. Paulo Brito, 2004. "The Dynamics of Growth and Distribution in a Spatially Heterogeneous World," Working Papers Department of Economics 2004/14, ISEG - School of Economics and Management, Department of Economics, University of Lisbon.
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  7. Paul M Romer, 1999. "Increasing Returns and Long-Run Growth," Levine's Working Paper Archive 2232, David K. Levine.
  8. Sergio T. Rebelo, 1990. "Long Run Policy Analysis and Long Run Growth," NBER Working Papers 3325, National Bureau of Economic Research, Inc.
  9. Danny Quah, 2002. "Spatial Agglomeration Dynamics," CEP Discussion Papers dp0521, Centre for Economic Performance, LSE.
  10. Desmet, Klaus & Rossi-Hansberg, Esteban, 2009. "Spatial growth and industry age," Journal of Economic Theory, Elsevier, vol. 144(6), pages 2477-2502, November.
  11. Quah, Danny, 2002. "Spatial Agglomeration Dynamics," CEPR Discussion Papers 3208, C.E.P.R. Discussion Papers.
  12. Klaus Desmet & Esteban Rossi-Hansberg, 2009. "On Spatial dynamics," Working Papers 2009-16, Instituto Madrileño de Estudios Avanzados (IMDEA) Ciencias Sociales.
  13. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
  14. Paul Krugman, 1997. "Development, Geography, and Economic Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 026261135x, June.
  15. Klaus Desmet & Esteban Rossi-Hansberg, 2012. "Innovation in Space," American Economic Review, American Economic Association, vol. 102(3), pages 447-52, May.
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