On Convergence in the Spatial AK Growth Models

Research output: Book/Report/JournalOther report

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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

Fingerprint

Growth model
Economic theory
Spatial distribution
Time-varying
Spatial economics
Objective function
Capital stock
Economic activity

Keywords

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

Cite this

Aldashev, G., Aldashev, S., & Carletti, T. (2014). On Convergence in the Spatial AK Growth Models. (14 ed.) (naXys Technical Report Series; Vol. 3, No. 2014). Namur center for complex systems.
Aldashev, Gani ; Aldashev, Serik ; Carletti, Timoteo. / On Convergence in the Spatial AK Growth Models. 14 ed. Namur center for complex systems, 2014. 16 p. (naXys Technical Report Series; 2014).
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keywords = "Economic Growth, Convergence, Spatial Dynamics, Partial Differential Equations",
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Aldashev, G, Aldashev, S & Carletti, T 2014, On Convergence in the Spatial AK Growth Models. naXys Technical Report Series, no. 2014, vol. 3, vol. 3, 14 edn, Namur center for complex systems.

On Convergence in the Spatial AK Growth Models. / Aldashev, Gani; Aldashev, Serik; Carletti, Timoteo.

14 ed. Namur center for complex systems, 2014. 16 p. (naXys Technical Report Series; Vol. 3, No. 2014).

Research output: Book/Report/JournalOther report

TY - BOOK

T1 - On Convergence in the Spatial AK Growth Models

AU - Aldashev, Gani

AU - Aldashev, Serik

AU - Carletti, Timoteo

PY - 2014/1/19

Y1 - 2014/1/19

N2 - Recent research in economic theory attempts to study optimal economic growthand 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.

AB - Recent research in economic theory attempts to study optimal economic growthand 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.

KW - Economic Growth

KW - Convergence

KW - Spatial Dynamics

KW - Partial Differential Equations

M3 - Other report

VL - 3

T3 - naXys Technical Report Series

BT - On Convergence in the Spatial AK Growth Models

PB - Namur center for complex systems

ER -

Aldashev G, Aldashev S, Carletti T. On Convergence in the Spatial AK Growth Models. 14 ed. Namur center for complex systems, 2014. 16 p. (naXys Technical Report Series; 2014).