This paper develops a dynamic general equilibrium model to explore industrial evolution and economic growth in a closed developing economy. The authors show that industries will endogenously upgrade toward the more capital-intensive ones as the capital endowment becomes more abundant. The model features a continuous inverse-V-shaped pattern of industrial evolution driven by capital accumulation: As the capital endowment reaches a certain threshold...
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INFORMACIÓN
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2009/09/01
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Documento de trabajo sobre investigaciones relativas a políticas
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WPS5055
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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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Endowment structures, industrial dynamics, and economic growth
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industrial dynamic