Endogenous Growth and Regional Dynamics in an OLG Model with Land
This paper examines the existence condition of a balanced growth path in an overlapping generations model in which production uses three inputs, physical capital, human capital and land, with increasing returns to scale. Human capital is the engine of economic growth. It is shown that, unlike standard economic geography models, increasing returns verifying balanced growth always lead to regional convergence. Physical capital mobility turns out to be an overwhelming convergence force.
Endogenous growth; human capital; land; overlapping generations; regional dynamics
In order to set up a list of libraries that you have access to,
you must first login
or sign up.
Then set up a personal list of libraries from your profile page by
clicking on your user name at the top right of any screen.