On the speed of convergence in endogenous growth models

Article Abstract:

An analysis of the speed of convergence to a steady-state path in a class of endogenous growth models with human and physical capital has shown that the human capital technology's productivity positively affects the speed of convergence under the productivity and concavity of both production functions. Physical capital and income, on the other hand, has a negative influence on the speed of convergence. Distortionary taxes and preference parameters do not affect the rate at which the balanced path will be approached by an economy.

Industrial development, Industrialization, Human capital, Convergence (Mathematics)

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Equilibrium dynamics in two-sector models of endogenous growth

Article Abstract:

Recent research has focused on two extensions of the Lucas-Uzawa model of endogenous growth. The first extension includes physical capital as an input of the educational sector, where the dynamics is similar to the original Lucas-Uzawa model. The second extension assumes that leisure considerations play a positive role in agents' welfare. Analysis of these models show that different long-term growth rates can co-exist, and that low-educated countries invest less in education and growth.

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The empirics of growth and convergence: a selective review

Article Abstract:

A survey of literature discusses the role played by empirical issues on the economic growth and convergence. Two of the most important issues in growth data include the historically upward trend of the average growth rate and the rising international dispersion of income per capita. The survey also provides a framework for the empirical analysis of the economic growth, as well as a detailed discussion of the evolution of world income distribution.

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