Economic Growth in an Interdependent World Economy*
نویسنده
چکیده
A possible alternative to the Solow-Swan model is some variant of a model of endogenous growth either in the form of the AK model developed by Romer (1986), Lucas (1988) and Rebelo (1991) or in the subsequent group of models by Romer (1990), Grossman and Helpman (1991a, b), and Aghion and Howitt (1992) that focus more explicitly on the determinants of technological change. In this article we study a two-sector two-country version of the AK model and we argue that this model is a more attractive paradigm for the study of a collection of interdependent national economies than the MRW variant of the Solow-Swan model.
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