Capital Growth Paths of the Neoclassical Growth Model | Zendy

Taro Takahashi | Zendy

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Capital Growth Paths of the Neoclassical Growth Model

Author(s) -

Taro Takahashi

Publication year - 2012

Publication title -

plos one

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.99

H-Index - 332

ISSN - 1932-6203

DOI - 10.1371/journal.pone.0049484

Subject(s) - economics , capital (architecture) , capital deepening , growth model , capital accumulation , physical capital , capital formation , monetary economics , financial capital , microeconomics , human capital , market economy , geography , archaeology

This paper derives the first-order approximated paths of both types of capital in the two-capital neoclassical growth model. The derived capital growth paths reveal that the short-run growth effect of capital injection differs considerably depending on which type of capital is enhanced. This result demonstrates the importance of well-targeted capital enhancement programs such as public sector projects and foreign aid.

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