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| Thomas M. Steger |
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| ''The Segerstrom Model: Stability, Speed of Convergence and Policy Implications'' |
| ( 2003, Vol. 15 No.4 ) |
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| This short paper presents a simple analytical stability proof for the well-known Segerstrom (1998) model of endogenous growth. Moreover, a calibrated version of the model is employed to assess the speed of convergence. The result shows that transitional dynamics are important and, hence, the policy ineffectiveness proposition of non-scale endogenous growth models must be qualified. |
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| Keywords: |
JEL:
N1 - Economic History: Macroeconomics and Monetary Economics; Growth and Fluctuations: General, International, or Comparative |
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| Manuscript Received : Jun 27 2003 | | Manuscript Accepted : Jun 27 2003 |
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