Long-Run Policy Analysis and Long-Run Growth

Sergio Rebelo (s-rebelo@kellogg.northwestern.edu)

Journal of Political Economy, 1991, vol. 99, issue 3, 500-521

Abstract: The wide cross-country disparity in rates of economic growth is the most puzzling feature of the development process. This paper describes a class of models in which this heterogeneity in growth experiences can be the result of cross-country differences in government policy. These differences can also create incentives for labor migration from slow-growing to fast-growing countries. In the models considered, growth is endogenous, despite the absence of increasing returns, because there is a "core" of capital goods that can be produced without the direct or indirect contribution of factors that cannot be accumulated, such as land. Copyright 1991 by University of Chicago Press.

Date: 1991
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Related works:
Working Paper: Long Run Policy Analysis and Long Run Growth (1999)
Working Paper: Long Run Policy Analysis and Long Run Growth (1990)
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