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Global Endogenous Growth and Distributional Dynamics

  • Paulo Brito

In this paper we deal with the global distribution of capital and output across time. We supply empirical support to model it as a partial differential equation, if the support of the distribution is related to an initial ranking of the economies. If we consider a distributional extension of the AK model we prove that it displays both global endogenous growth and transitional convergence in a distributional sense. This property can also be shared by a distributional extension of the Ramsey model. We conduct a qualitative analysis of the distributional dynamics and prove that If the technology displays mild decreasing marginal returns we can have long run growth if a diffusion induced bifurcation is crossed. This means that global growth can exist even in the case in which the local production functions are homogeneous and display decreasing returns to scale.

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File URL: http://degit.sam.sdu.dk/papers/degit_17/C017_053.pdf
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Paper provided by DEGIT, Dynamics, Economic Growth, and International Trade in its series DEGIT Conference Papers with number c017_053.

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Length: 44 pages
Date of creation: Sep 2012
Date of revision:
Handle: RePEc:deg:conpap:c017_053
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  1. Caselli, F. & Ventura, J., 1996. "A Representative Consumer Theory of Distribution," Working papers 96-11, Massachusetts Institute of Technology (MIT), Department of Economics.
  2. Klaus Desmet & Esteban Rossi-Hansberg, 2010. "On Spatial Dynamics," Journal of Regional Science, Wiley Blackwell, vol. 50(1), pages 43-63.
  3. Carmen Camacho & Raouf Boucekkine & Fabbri Giorgio, 2013. "Spatial dynamics and convergence: The spatial AK model," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00973387, HAL.
  4. Raouf Boucekkine & Carmen Camacho & Benteng Zou, 2006. "Bridging the gap between growth theory and the new economic geography: The spatial Ramsey model," DEGIT Conference Papers c011_039, DEGIT, Dynamics, Economic Growth, and International Trade.
  5. John C. Harsanyi, 1955. "Cardinal Welfare, Individualistic Ethics, and Interpersonal Comparisons of Utility," Journal of Political Economy, University of Chicago Press, vol. 63, pages 309.
  6. Robert E. Lucas, Jr., 2007. "Trade and the Diffusion of the Industrial Revolution," NBER Working Papers 13286, National Bureau of Economic Research, Inc.
  7. Chatterjee, Satyajit, 1994. "Transitional dynamics and the distribution of wealth in a neoclassical growth model," Journal of Public Economics, Elsevier, vol. 54(1), pages 97-119, May.
  8. repec:cup:cbooks:9780521894753 is not listed on IDEAS
  9. Brock, William & Xepapadeas, Anastasios, 2008. "Diffusion-induced instability and pattern formation in infinite horizon recursive optimal control," Journal of Economic Dynamics and Control, Elsevier, vol. 32(9), pages 2745-2787, September.
  10. 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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