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Phases of Economic Development: Do Initial Endowments Matter?

  • Manuel A. Gómez EMAIL logo and Tiago Neves Sequeira
Published/Copyright: July 19, 2012
The B.E. Journal of Macroeconomics
From the journal The B.E. Journal of Macroeconomics Volume 12 Issue 1

Abstract

Different industrializing experiences beginning on innovation or education could be explained not only by different structural parameters or policies but also by differences in factor endowments. In this paper, we consider an endogenous growth model with physical capital, human capital and R&D. We show that the initial endowments alone can determine the sequence of the phases of development that the economy follows; in particular, whether innovation precedes education or vice versa.

Keywords: endogenous growth; transitional dynamics; innovation; education
Published Online: 2012-7-19

©2012 Walter de Gruyter GmbH & Co. KG, Berlin/Boston

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  1. Advances Article
  2. Life Cycle Dynamics of Income Uncertainty and Consumption
  3. Immigration, Fiscal Policy, and Welfare in an Aging Population
  4. Contributions Article
  5. Who Gets the Credit? And Does It Matter? Household vs. Firm Lending Across Countries
  6. How Much Did the 2009 Australian Fiscal Stimulus Boost Demand? Evidence from Household-Reported Spending Effects
  7. Economic Growth and Political Survival
  8. Exchange Rate Uncertainty and Trade
  9. Monetary and Macroprudential Policy Rules in a Model with House Price Booms
  10. A Unified Framework for Using Micro-Data to Compare Dynamic Time-Dependent Price-Setting Models
  11. Government Policy Response to War-Expenditure Shocks
  12. Poverty Traps and Growth in a Model of Endogenous Time Preference
  13. Where Has All the Money Gone? Foreign Aid and the Composition of Government Spending
  14. Great Spending Crashes
  15. Capital Utilization and the Amplification Mechanism
  16. Topics Article
  17. Unemployment Expectations and the Business Cycle
  18. Sector-Specific Capital, Labor Market Distortions and Cross-Country Income Differences: A Two-Sector General Equilibrium Approach
  19. A Dynamic Theory of Competence, Loyalty and Stability in Dictatorships
  20. Coordination Failure in Investment, Economic Growth, and Volatility
  21. Openness, Imported Commodities and the Sacrifice Ratio
  22. Consumption, Leisure and Borrowing Constraints
  23. A Credibility Proxy: Tracking US Monetary Developments
  24. Estimating Information Rigidity Using Firms' Survey Data
  25. Has the Fed Reacted Asymmetrically to Stock Prices?
  26. News Shocks, Productivity and the U.S. Investment Boom-Bust Cycle
  27. A Supply-Demand Framework for Understanding the U.S. Gender Gap in Education
  28. Misallocation and Manufacturing TFP in Bolivia during the Market Liberalization Period
  29. Government Debt Dynamics Under Discretion
  30. The Global Transmission of Government Debt
  31. Is Discretionary Fiscal Policy in Japan Effective?
  32. The Laffer Curve in a Frictional Labor Market
  33. Nonexponential Discounting: A Direct Test And Perhaps A New Puzzle
  34. International Transmission of Medium-Term Technology Cycles: Evidence from Spain as a Recipient Country
  35. Phases of Economic Development: Do Initial Endowments Matter?
https://doi.org/10.1515/1935-1690.2401
Keywords for this article
endogenous growth; transitional dynamics; innovation; education

Articles in the same Issue

  1. Advances Article
  2. Life Cycle Dynamics of Income Uncertainty and Consumption
  3. Immigration, Fiscal Policy, and Welfare in an Aging Population
  4. Contributions Article
  5. Who Gets the Credit? And Does It Matter? Household vs. Firm Lending Across Countries
  6. How Much Did the 2009 Australian Fiscal Stimulus Boost Demand? Evidence from Household-Reported Spending Effects
  7. Economic Growth and Political Survival
  8. Exchange Rate Uncertainty and Trade
  9. Monetary and Macroprudential Policy Rules in a Model with House Price Booms
  10. A Unified Framework for Using Micro-Data to Compare Dynamic Time-Dependent Price-Setting Models
  11. Government Policy Response to War-Expenditure Shocks
  12. Poverty Traps and Growth in a Model of Endogenous Time Preference
  13. Where Has All the Money Gone? Foreign Aid and the Composition of Government Spending
  14. Great Spending Crashes
  15. Capital Utilization and the Amplification Mechanism
  16. Topics Article
  17. Unemployment Expectations and the Business Cycle
  18. Sector-Specific Capital, Labor Market Distortions and Cross-Country Income Differences: A Two-Sector General Equilibrium Approach
  19. A Dynamic Theory of Competence, Loyalty and Stability in Dictatorships
  20. Coordination Failure in Investment, Economic Growth, and Volatility
  21. Openness, Imported Commodities and the Sacrifice Ratio
  22. Consumption, Leisure and Borrowing Constraints
  23. A Credibility Proxy: Tracking US Monetary Developments
  24. Estimating Information Rigidity Using Firms' Survey Data
  25. Has the Fed Reacted Asymmetrically to Stock Prices?
  26. News Shocks, Productivity and the U.S. Investment Boom-Bust Cycle
  27. A Supply-Demand Framework for Understanding the U.S. Gender Gap in Education
  28. Misallocation and Manufacturing TFP in Bolivia during the Market Liberalization Period
  29. Government Debt Dynamics Under Discretion
  30. The Global Transmission of Government Debt
  31. Is Discretionary Fiscal Policy in Japan Effective?
  32. The Laffer Curve in a Frictional Labor Market
  33. Nonexponential Discounting: A Direct Test And Perhaps A New Puzzle
  34. International Transmission of Medium-Term Technology Cycles: Evidence from Spain as a Recipient Country
  35. Phases of Economic Development: Do Initial Endowments Matter?
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