Endogenous growth, land and intemporal efficiency

Peter Stauvermann

History of Economic Ideas, 2002, vol. 10, issue 1, 63-77

Abstract: In this paper we show in an endogenous growth model that the private property of land reduces the growth rate. The reason for this is that the private property of land crowds out growth-enhancing investments. This result will occur if the land is traded or if the land is bequeathed. Additionally we show that it is possible to increase the growth-rate without harming any generation.

Date: 2002
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