Unbalanced Growth

Alan Beggs

No 48, Economics Series Working Papers from University of Oxford, Department of Economics

Abstract: This paper considers a model of endogenous growth with two sectors. It shows that it may be desirable to concentrate research in one sector, and so have unbalanced growth, but that the pressure of competition in research may cause the private sector to spread research too widely, and so have growth that is too balanced. It is also shown that even if private agents concentrate research in one sector, they may do so in the wrong one.

Keywords: growth; two sector; unbalanced growth (search for similar items in EconPapers)
JEL-codes: O31 O41 (search for similar items in EconPapers)
Date: 2000-12-01
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