CANNON WAS RIGHT BUT INCOMPLETE: FRANKEL WAS A NEGLECTED EARLY CONTRIBUTION TO GROWTH THEORY
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This paper reexamines an important early contribution to the growth literature highlighted in 2000 by Cannon in the American Economic Review: "The production function in allocation and growth: A synthesis" by Marvin Frankel in 1962. First this contribution provides a formal proof in the continuous time framework of trajectories that are not provided by Frankel and Cannon. Second it shows that in this framework poverty traps are possible while it was not detected by these authors.
Keywords: Economic growth; Poverty traps.; Croissance économique; Piège à pauvreté (search for similar items in EconPapers)
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Working Paper: Cannon was right but Incomplete: Frankel was a Neglected Early Contribution to Growth Theory (2012)
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