Luxury-based Growth

Shiro Kuwahara ()
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Shiro Kuwahara: Graduate School of Economics, Kyoto University

Economics Bulletin, 2006, vol. 15, issue 5, 1-13

Abstract: Assuming that there exists a preference for luxury goods and a knowledge spillover from luxury goods production to goods production, this paper constructs an endogenous economic growth model. The model predicts two steady states: one is a steady positive growth state with regard to luxury goods production, and the other is a zero growth state in the absence of luxury goods production. Thus, this study examines the polarization of economies based on luxury goods consumption

JEL-codes: E2 O1 (search for similar items in EconPapers)
Date: 2006-06-19
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