新古典增长模型的稳态路径能否包括资本增进型技术进步?

Can the Steady-State Path of Neoclassical Growth Model Embrace Capital-Augmenting Technological Progress?

Defu Li () and Jiuli Huang

MPRA Paper from University Library of Munich, Germany

Abstract: The celebrated Uzawa(1961) theorem holds that，on the steady-growth path of neoclassical growth model，technological progress must be purely labor-augmenting rather than capital-augmenting，except the special case where the production function takes the form of Cobb-Douglas. With an augmented Ramsey model，however，we prove in this paper that，when investment has adjustment cost which correlates positively with capital-augmenting technology，the steady state growth path can also embrace capital-augmenting technological progress，even if the production function is not Cobb-Douglas. Our conclusions contribute to the study of steady-state condition of neoclassical growth model，and the understanding of the roles of capital and capital-augmenting technology progress in economic growth.

Keywords: Uzawa Steady-state Theorem; Capital-Augmenting Technology; Adjustment Cost; Neoclassical Growth Model (search for similar items in EconPapers)
JEL-codes: E13 O33 O41 (search for similar items in EconPapers)
Date: 2012-10
New Economics Papers: this item is included in nep-mac
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Published in South China Journal of Economics 10 (2012): pp. 43-50

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