The Solow model of economic growth (Solow, 1956, Swan, 1956) concludes that poorer countries will tend to grow faster than richer ones-provided that countries share the same production function, savings rate and population growth, and labor-augmenting technology grows at the same rate in all countries. The existence of income convergence has thus been usually taken to be a test of exogenous growth model versus endogenous growth models-that do not...
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ПОДРОБНАЯ ИНФОРМАЦИЯ
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2008/01/01
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Краткие сведения
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46268
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1
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1
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2010/07/01
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Disclosed
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Growth and income convergence
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steady state level