Openness, Human Development, and Fiscal Policies : Effectson Economic Growth and Speed of Adjustment »
Series: IMF Working Papers
Author(s): Delano Villanueva
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 July 1993
Keywords: growth rate, equation, economic growth, growth rate of output, equations
The model developed here postulates that learning through experience plays a critical role in raising labor productivity over time, with three major consequences. First, the steady-state growth rate (of output) bec...