Capital Deepening and Non-Balanced Economic Growth

  title={Capital Deepening and Non-Balanced Economic Growth},
  author={Veronica Guerrieri},
  • Veronica Guerrieri
  • Published 2005
This paper constructs a model of non-balanced economic growth. The main economic force is the combination of differences in factor proportions and capital deepening. Capital deepening tends to increase the relative output of the sector with a greater capital share, but simultaneously induces a reallocation of capital and labor away from that sector. We first illustrate this force using a general two-sector model. We then investigate it further using a class of models with constant elasticity of… CONTINUE READING
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