Capital growth paths of the neoclassical growth model.
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ABSTRACT:
SUBMITTER: Takahashi T
PROVIDER: S-EPMC3502446 | biostudies-literature | 2012
REPOSITORIES: biostudies-literature
Publications
This paper derives the first-order approximated paths of both types of capital in the two-capital neoclassical growth model. The derived capital growth paths reveal that the short-run growth effect of capital injection differs considerably depending on which type of capital is enhanced. This result demonstrates the importance of well-targeted capital enhancement programs such as public sector projects and foreign aid. ...[more]
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