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Corruption, National debts, Education and Growth

Author

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  • Wei-Bin Zhang

    (School of International Management, Ritsumeikan Asia Pacific University, Beppu-City, Japan)

Abstract

The main purpose of this study is to analyze dynamic relations between debts and corruption. We develop a dynamic general equilibrium model with endogenous wealth, human capital, corruption, and government debt. The model is a synthesis of Solow’s growth model, Uzawa’s two-sector model, Diamond’s government debt model, and Uzawa-Lucas’ human capital growth model with Zhang’s approach to household behavior. We construct and simulate the model. The simulated case has two equilibrium points, the one with negative government debt being stable and the other one with positive debt being unstable. We carry out comparative dynamic analysis separately with regard to the two equilibrium points to see transitory and long-run effects of changes in some parameters. We also point out limitations and possible extensions in the conclusion.

Suggested Citation

  • Wei-Bin Zhang, 2017. "Corruption, National debts, Education and Growth," Economic Research Guardian, Mutascu Publishing, vol. 7(2), pages 88-115, December.
    • Handle: RePEc:wei:journl:v:7:y:2017:i:2:p:88-115
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    More about this item

    Keywords

    Corruption rates; Government debt; Economic growth; Education; Human capital; Time distribution;
    All these keywords.

    JEL classification:

    • O41 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
    • D3 - Microeconomics - - Distribution
    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment

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