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Debt, Corruption, R&D and Growth in Developing Countries

Author

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  • Dimaria, C.H.
  • Le Van, C.

Abstract

This paper analyzes optimal paths in a one-sector growth model when the technology is not convex. In such a case, we prove that optimal paths converge to the upper steady state iff the initial wealth is above a critical level. Then we first show that thanks to debt and/or R&D the poverty trap may be avoided. Second, we introduce a distorsion : corruption which mostly has dramatic consequences on growth. These results may explain why empirical works lead to the conclusion of non convergence in large cross-country samples.

Suggested Citation

  • Dimaria, C.H. & Le Van, C., 1999. "Debt, Corruption, R&D and Growth in Developing Countries," Papiers d'Economie Mathématique et Applications 1999.36, Université Panthéon-Sorbonne (Paris 1).
  • Handle: RePEc:fth:pariem:1999.36
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    Cited by:

    1. Ossama Mikhail, 2004. "Economic Freedom and The Business Cycle: The Egyptian Experience," Macroeconomics 0402002, EconWPA.

    More about this item

    Keywords

    CORRUPTION ; DEPT ; DEVELOPING COUNTRIES ; POVERTY;

    JEL classification:

    • D73 - Microeconomics - - Analysis of Collective Decision-Making - - - Bureaucracy; Administrative Processes in Public Organizations; Corruption
    • F34 - International Economics - - International Finance - - - International Lending and Debt Problems
    • I32 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Measurement and Analysis of Poverty
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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