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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