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Producers, parasites and poverty traps

Author

Listed:
  • Marcelo de Carvalho Griebeler

    (Universidade Federal do Rio Grande do Sul, Faculdade de Ciências Econômicas, Brazil)

  • Ronald Otto Hillbrecht

    (Universidade Federal do Rio Grande do Sul, Faculdade de Ciências EconômicasAuthor-)

Abstract

We studied the population dynamics of producers and parasites in a developing economy through the Lotka–Volterra model. Our baseline model found a cyclical equilibrium between these two groups of agents. When the equilibrium output is low, we propose that economy is in a poverty trap, such that the only way to achieve superior equilibrium is through improvements in the institutional parameters (e.g. property rights). By adding expectations and time delays, the cyclical result may no longer hold. Nevertheless, institutional improvements promote development through an increase in the level of producers and a decrease of parasites. Still, such improvements positively affect the stability of the modified model

Suggested Citation

  • Marcelo de Carvalho Griebeler & Ronald Otto Hillbrecht, 2015. "Producers, parasites and poverty traps," Economia, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics], vol. 16(3), pages 310-320.
    • Handle: RePEc:anp:econom:v:16:y:2015:3:310_320
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    More about this item

    Keywords

    Lotka–Volterra model; Institutions; Economic development; Parasites;
    All these keywords.

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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