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Capital Growth Paths of the Neoclassical Growth Model

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  • Taro Takahashi

Abstract

This paper derives the first-order approximated paths of both types of capital in the two-capital neoclassical growth model. The derived capital growth paths reveal that the short-run growth effect of capital injection differs considerably depending on which type of capital is enhanced. This result demonstrates the importance of well-targeted capital enhancement programs such as public sector projects and foreign aid.

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  • Taro Takahashi, 2012. "Capital Growth Paths of the Neoclassical Growth Model," PLOS ONE, Public Library of Science, vol. 7(11), pages 1-5, November.
    • Handle: RePEc:plo:pone00:0049484
    DOI: 10.1371/journal.pone.0049484
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    References listed on IDEAS

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    1. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    2. Carstensen Kai & Hartmann Susanne & Gundlach Erich, 2009. "The Augmented Solow Model with Mincerian Schooling and Externalities," German Economic Review, De Gruyter, vol. 10(4), pages 448-463, December.
    3. repec:bla:germec:v:10:y:2009:i::p:448-463 is not listed on IDEAS
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