Toward a General Model of Economic Growth
The class of growth models that incorporate nonrivalry and/or externalities implies that the size (scale) of an economy influences its growth rate. Ample empirical evidence exists to suggest that such implied scale effects are counter-factual. The objective of this paper is to develop a general growth model to examine the conditions under which balanced growth is void of scale effects.
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|Date of creation:||1997|
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