The author surveys recent growth models that try to explain the diversity among countries in rates of economic growth. The author finds that these models can generate differences in growth rates only in the absence of international capital markets. Under these models, if there were free international capital mobility, the growth rate of consumption and GNP would quickly be equalized all over the world. The author describes a simple modification of...
انظر المزيد
تفاصيل
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1991/11/30
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ورقة عمل خاصة ببحوث السياسات
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WPS799
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1
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1
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2010/7/01
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Growth in open economies
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real rate of return