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A Model of the Transition to Growth

Michael Waugh, Guillaume Vandenbroucke () and B Ravikumar

No 1259, 2010 Meeting Papers from Society for Economic Dynamics

Abstract: productivity: a new technology is "more risky" and more productive on average. In this context, the adoption of the new technology from a low level of income (close to subsistence) generates a gradual increase in the investment to output ratio.

Date: 2010
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