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Threshold Externalities in Economic Development
Abstract
Standard one-sector growth models often have the counterfactual implication that economies with access to similar technologies will converge to a common balanced growth path. We propose an elaboration of the Diamond model that permits multiple, locally stable stationary states. This multiplicity is due to increasing social returns to scale in the accumulation of human capital.
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Cited by
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Di Liberto, A. (2008) · Economics of Education Review · doi:10.1016/j.econedurev.2006.08.004 · Cited by 110
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Klimenko, M. M. (2004) · Journal of Development Economics · doi:10.1016/j.jdeveco.2002.09.001 · Cited by 38
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Metadata
- Authors
- Azariadis, C., & Drazen, A.
- Venue
- The Quarterly Journal of Economics
- Publisher
- Oxford University Press (OUP)
- Published
- 1990-05
- Volume
- 105
- Issue
- 2
- Pages
- 501
- ISSN
- 0033-5533 (ISSN-L)
- OpenAlex
- W2002425710
- Cited by
- 2,016
- References
- 0
- FWCI
- 64.41
- Type
- journal article
- Language
- en
- Open access
- closed
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- Azariadis, C., & Drazen, A. (1990). Threshold Externalities in Economic Development. The Quarterly Journal of Economics. https://doi.org/10.2307/2937797
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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
