A Pasinetti model of savings and growth
نویسنده
چکیده
This paper develops a two-sector growth model in which institutional investors play a significant role. A necessary and suffi cient condition is established under which these investors own the entire capital stock in the long run. The dependence of the long-run growth rate on the behaviour of such investors, and the effects of a productivity increase are analysed. JEL classification. O41, O43 Acknowledgements. I am grateful to Stefano Zambelli for his advice, and to Waikato University, New Zealand, for a constructive research environment. Thanks also to the Carnegie Foundation for a grant which supported this research. Any remaining errors or omissions are entirely mine.
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