Indeterminacy and the Distribution of Growth Rates

8 Pages Posted: 29 Nov 2001

See all articles by Alfred Greiner

Alfred Greiner

Bielefeld University - Department of Business Administration and Economics

Jens J. Krüger

Technical University of Darmstadt

Abstract

In endogenous growth theory models exist which are characterized by local and global indeterminacy. These concepts imply that economies differ with respect to their growth rates on the transition path (local indeterminacy) as well as their long-run growth rates (global indeterminacy). While the empirical density function of the levels of aggregate GDP has been the subject of a great many studies, the distribution of the growth rates has not yet been analyzed. In this paper, recent research on the evolution of the world income distribution is expanded by an analysis of the evolution of the distribution of growth rates for a sample of 104 countries. It is found that this distribution is remarkably stable over the period 1960-90.

Keywords: Indeterminacy, Endogenous Rates, Distribution of Growth Rates

JEL Classification: C14, N10, O41, O57

Suggested Citation

Greiner, Alfred and Krüger, Jens J., Indeterminacy and the Distribution of Growth Rates. Available at SSRN: https://ssrn.com/abstract=291720 or http://dx.doi.org/10.2139/ssrn.291720

Alfred Greiner (Contact Author)

Bielefeld University - Department of Business Administration and Economics ( email )

P.O. Box 100131
Bielefeld, 33501
Germany
+49 521 106 4859 (Phone)
+49 521 106 67120 (Fax)

HOME PAGE: http://phoenix.wiwi.uni-bielefeld.de/lehrbereiche/vwl/wipol

Jens J. Krüger

Technical University of Darmstadt ( email )

Hochschulstraße 1
Darmstadt, 64289
Germany

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