Equilibrium Determinacy of a Two-Sector AK Model

Kazuo Mino

MPRA Paper from University Library of Munich, Germany

Abstract: This paper explores a two-sector model of endogenous growth with AK technologies and production externalities. Unlike the standard one-sector AK model, the two-sector model may involve the relative price dynamics, so that there may exist transitional processes. It is shown that under certain conditions for the relative magnitudes of factor intensities, the balanced growth equilibrium exhibits local indeterminacy.

Keywords: Two-Sector AK model; endogenous growth, equilibrium determinacy (search for similar items in EconPapers)
JEL-codes: O41 (search for similar items in EconPapers)
Date: 1998-03
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