Economics at your fingertips  

Threshold Externalities in Economic Development

Costas Azariadis () and Allan Drazen

The Quarterly Journal of Economics, 1990, vol. 105, issue 2, 501-526

Abstract: Standard one-sector growth models often have the counterfactual implication that economies with access to similar technologies will converge to a common balanced growth path. We propose an elaboration of the Diamond model that permits multiple, locally stable stationary states. This multiplicity is due to increasing social returns to scale in the accumulation of human capital.

Date: 1990
References: Add references at CitEc
Citations: View citations in EconPapers (903) Track citations by RSS feed

Downloads: (external link) (application/pdf)
Access to full text is restricted to subscribers.

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:

Access Statistics for this article

The Quarterly Journal of Economics is currently edited by Robert J. Barro, Elhanan Helpman, Lawrence F. Katz and Andrei Schleifer

More articles in The Quarterly Journal of Economics from Oxford University Press
Bibliographic data for series maintained by Oxford University Press ( this e-mail address is bad, please contact ) and Christopher F. Baum ().

Page updated 2021-04-12
Handle: RePEc:oup:qjecon:v:105:y:1990:i:2:p:501-526.