On Convergence in the Spatial AK Growth Models

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Abstract

Recent research in economic theory attempts to study optimal economic growth
and spatial location of economic activity in a uniÖed framework. So far, the key result of this literature - asymptotic convergence, even in the absence of decreasing returns to capital - relies on speciÖc assumptions about the objective of the social planner. We show that this result does not depend on such restrictive assumptions and obtains for a broader class of objective functions. We also generalize this Önding, allowing for the time-varying technology parameter, and provide an explicit solution for the dynamics of spatial distribution of the capital stock.
Original languageEnglish
PublisherNamur center for complex systems
Number of pages16
Volume3
Edition14
Publication statusPublished - 19 Jan 2014

Publication series

NamenaXys Technical Report Series
PublisherUniversity of Namur
No.2014
Volume3

Keywords

  • Economic Growth
  • Convergence
  • Spatial Dynamics
  • Partial Differential Equations

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