“Un-balanced” Economic Growth

Leung, Hing-Man ()
Additional contact information
Leung, Hing-Man: School of Economics, Singapore Management University

No 12-2007, Working Papers from Singapore Management University, School of Economics

Abstract: Since the elasticity of substitution between capital and labor is not always one, and since technical progress is not always Harrod-neutral, it is desirable to have an endogenous growth model that admits all sizes of the elasticity and all known technology modes. We derive an equation to do just that, fully describing the per capita income growth rate at all times. It shows a typical economy needing hundreds if not thousands of years to reach its long term growth rate, leading to the conclusion that even the short run may be very long indeed.

Keywords: The elasticity of substitution; Non-Harrod-neutral technology; short-run growth (search for similar items in EconPapers)
JEL-codes: O10 O11 O12 O40 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-fdg
Date: 2007-09
View list of references

Published in SMU Economics and Statistics Working Paper Series

Downloads: (external link)
https://mercury.smu.edu.sg/rsrchpubupload/10632/Un-balancedEconomicGrowth.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:siu:wpaper:12-2007

Ordering information: This working paper can be ordered from

Access Statistics for this paper

More papers in Working Papers from Singapore Management University, School of Economics
Contact information at EDIRC.
Series data maintained by QL THor ().