The Savings Trap and Economic Take-Off

The Savings Trap and Economic Take-Off
We develop an overlapping generations model of a developing economy in which 'culture' and technology interact to determine savings, investment and growth. Investment is assumed to involve intermediation or other costs which may, in each period, result in either of two stable equilibria for the savings rate. At the "good" equilibrium, savings... READ MORE...

Publication date: November 1992
ISBN 9781451851458
$15.00

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