網頁Following the existing literature, we include initial income, as measured by the real GDP in 1980, to capture the catch-up effect on economic growth (see, Lee, 2016). 網頁time. However, the cross-country empirical evidence failed to support this prediction of catching-up. As emphasised by the endogenous growth models, rich economies have to grow faster and indefinitely due to higher rate of capital formation and technological
Catch-Up Effect in Economics Bizfluent
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What is endogenous growth theory? World Economic Forum
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