Abstract
This paper develops a two-sector growth model in which institutional
investors play a significant role. A necessary and sufficient condition
is established under which these investors own the entire capital
stock in the long run. The dependence of the long-run growth rate
on the behaviour of such investors, and the effects of a productivity
increase are analysed.
investors play a significant role. A necessary and sufficient condition
is established under which these investors own the entire capital
stock in the long run. The dependence of the long-run growth rate
on the behaviour of such investors, and the effects of a productivity
increase are analysed.
| Original language | English |
|---|---|
| Publisher | Edinburgh School of Economics Discussion Paper Series |
| Number of pages | 20 |
| Publication status | Published - 2012 |
Publication series
| Name | ESE Discussion Papers |
|---|---|
| No. | 214 |
Keywords / Materials (for Non-textual outputs)
- O41
- O43