Hidden Bibliographic Details
Other authors / contributors: | International Monetary Fund.
IMF Institute.
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ISBN: | 1462315542 9781462315543 1452788529 9781452788524 1282107569 9781282107564 9786613800916 6613800910 1451905165 9781451905168
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Notes: | Includes bibliographical references (pages 26-28). Restrictions unspecified Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010. Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 English. digitized 2010 HathiTrust Digital Library committed to preserve Print version record.
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Summary: | Annotation The purpose of this paper is to explain the humped-shaped behavior of the growth rate. Within a dynamic general equilibrium framework, it is found that, in the early stages of development, the source of growth is the reallocation of resources from sectors low-productivity sectors to high-productivity sectors (extensive growth), resulting in increasing growth rates. In the middle and mature stages of development, the source of growth is the higher average productivity achieved by the competition among entrepreneurs (intensive growth). As a result, the growth rate could be increasing in the middle stage and then displays a decreasing pattern during the mature stage.
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Other form: | Print version: Carranza, Luis. Explaining economic growth with imperfect credit markets. [Washington, D.C.] : International Monetary Fund, IMF Institute, ©2000
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