Endowment structures, industrial dynamics, and economic growth

doi:10.1016/j.jmoneco.2015.09.006

CORC > 上海财经大学 > 上海财经大学

	Endowment structures, industrial dynamics, and economic growth
	Ju, Jiandong 1; Lin, Justin Yifu 2; Wang, Yong 3
刊名	JOURNAL OF MONETARY ECONOMICS
	2015-10
卷号	76 页码:244-263
关键词	Structural change Industrial dynamics Economic growth Capital accumulation
ISSN号	0304-3932
DOI	10.1016/j.jmoneco.2015.09.006
英文摘要	Motivated by four stylized facts about industry dynamics, we propose a theory of endowment-driven structural change by developing a tractable growth model with infinite industries. The aggregate economy in the model still follows the Kaldor facts, but the composition of the underlying industries changes endogenously over time. Each industry exhibits a hump-shaped life cycle: as capital reaches a certain threshold level, a new industry appears, prospers, and then declines, to be gradually replaced by a more capital-intensive industry, ad infinitum. Analytical solutions are obtained to characterize the life cycle of each industry and the perpetual structural change. (C) 2015 Elsevier B.V. All rights reserved.
WOS研究方向	Business & Economics
语种	英语
出版者	ELSEVIER SCIENCE BV
WOS记录号	WOS:000366237500016
内容类型	期刊论文
源URL	[http://10.2.47.112/handle/2XS4QKH4/1463]
专题	上海财经大学
通讯作者	Wang, Yong
作者单位	1.Shanghai Univ Finance & Econ, Tsinghua Univ, Shanghai, Peoples R China; 2.Peking Univ, Beijing, Peoples R China; 3.Hong Kong Univ Sci & Technol, Dept Econ, Hong Kong, Hong Kong, Peoples R China
推荐引用方式 GB/T 7714	Ju, Jiandong,Lin, Justin Yifu,Wang, Yong. Endowment structures, industrial dynamics, and economic growth[J]. JOURNAL OF MONETARY ECONOMICS,2015,76:244-263.
APA	Ju, Jiandong,Lin, Justin Yifu,&Wang, Yong.(2015).Endowment structures, industrial dynamics, and economic growth.JOURNAL OF MONETARY ECONOMICS,76,244-263.
MLA	Ju, Jiandong,et al."Endowment structures, industrial dynamics, and economic growth".JOURNAL OF MONETARY ECONOMICS 76(2015):244-263.