Production Externalities, Tobin's Q and Endogenous Growth

Christopher Tsoukis

Working Papers from Universite de Nantes - Economie Internationale et de l'Entreprise

Abstract: We investigate the implications of constant aggregate returns in production being generated by the combination of private capital and an external factor, as emphasised by the endogenous growth literature. We show that average Q deviates from marginal Q in proportion to the discrepancy between private and social returns in production.

Keywords: GROWTH MODELS; CAPITAL; EXTERNALITIES (search for similar items in EconPapers)
JEL-codes: E22 E23 (search for similar items in EconPapers)
Pages: 14 pages
Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:fth:nantie:281

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