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  • Issue of real convergence [Elektronski vir] : case of transition economies
    Novak, Matjaž, 1979- ...
    In this paper we discuss the main disadvantage of modern theory of economic growth, which is unable to predict the divergence of labor productivity growth between homogeneous economies. Under the ... term homogeneous economies we define the economies that possess the same human capital, have access to the same production technology, and experience equal growth of investments per labor-unit. In the article we describe that these conditions are significant for eight advanced transition economies that form EU8, and for 15 advanced market economies that form EU15. To overcome this basic disadvantage of modern growth theory we developed an original two-sector growth model and provide a theoretical analysis of divergence prediction between EU8 and EU15 economies.
    Source: Economy & business : Journal international scientific publications. - ISSN 1313-2555 (Vol. 4, part 3, 2010, str. 466-480)
    Type of material - e-article ; adult, serious
    Publish date - 2010
    Language - english
    COBISS.SI-ID - 3650007

    Link(s):

    http://www.science-journals.eu/economy/2010/ISP-EB-Vol4-Part3.swf

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