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A two-sector model of growth based on corporate finance (2) : review of the investment ratio in the saving-side and the investment-side
https://shudo-u.repo.nii.ac.jp/records/202
https://shudo-u.repo.nii.ac.jp/records/20273f62432-cec0-4c9a-be1d-0f13fb77d2fd
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
KJ00004136305 (4.1 MB)
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| Item type | 紀要論文(ELS) / Departmental Bulletin Paper(1) | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 公開日 | 1997-09-30 | |||||||||
| タイトル | ||||||||||
| タイトル | A two-sector model of growth based on corporate finance (2) : review of the investment ratio in the saving-side and the investment-side | |||||||||
| タイトル | ||||||||||
| タイトル | A two-sector model of growth based on corporate finance (2) : review of the investment ratio in the saving-side and the investment-side | |||||||||
| 言語 | en | |||||||||
| 言語 | ||||||||||
| 言語 | eng | |||||||||
| 資源タイプ | ||||||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_6501 | |||||||||
| 資源タイプ | departmental bulletin paper | |||||||||
| ページ属性 | ||||||||||
| 内容記述タイプ | Other | |||||||||
| 内容記述 | P(論文) | |||||||||
| 記事種別(日) | ||||||||||
| 論文 | ||||||||||
| 記事種別(英) | ||||||||||
| en | ||||||||||
| Article | ||||||||||
| 著者名(日) |
上領 , 英之
× 上領 , 英之
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| 著者名よみ |
カミリョウ , ヒデユキ
× カミリョウ , ヒデユキ
|
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| 著者名(英) |
Kamiryo , Hideyuki
× Kamiryo , Hideyuki
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| 著者所属(日) | ||||||||||
| 広島修道大学 | ||||||||||
| 出版者 | ||||||||||
| 出版者 | 広島修道大学商経学会 | |||||||||
| 抄録(英) | ||||||||||
| 内容記述タイプ | Other | |||||||||
| 内容記述 | In this paper, the author proposes first a two-sector model of growth that extends the two/one class growth model discussed in O'Connell [1995]. This model is a one-class (workers' own capital) and two-sector model under the balanced growth steady-state. It exhibits the same balanced condition as Harrod [1973] if capital stock is only owned by workers and the capitaloutput ratio is equal to one. General properties of this model include a result that the sensitivity of the changes in the growth rate in response to changes in the rate of profit depends crucially on the relative magnitude of the retention ratio (defined as undistributed profit/profit in the corporate sector) and the household propensity to save. However, this two-sector model is not supported enough by a panel data approach [Barro, 1991; De Long and Summers, 1991; Mankiw, Romer, D. and Weil,1992] executed by the author who uses the national accounts of six countries, 1982-1994. The cause lies in how to introduce the wage and dividend propensity to save and the population growth rate into the growth rates of output and capital. The O'Connel's mode is based on constant labour productivity. The "improved" two-sector model is established in discrete time by using the financial structure of products and under necessary and sufficient conditions. This improved model is based on the initial financial structure of products and opens the door for the growth in labour productivity by introducing a given population growth rate and technological progress. The model starts with the review of the investment ratio, ΔK_P/Y_0, which integrates the saving-side with the investment-side. As a result, using the initial predetermined variables of the relative share of profit and the capitaloutput ratio, important related variables in equilibrium are all endogenously mea-sured. The financial structure converges in equilibrium and diverges to some extent in disequilibrium, but disequilibrium quickly closes to equilibrium. This paper establishes conditions of equilibrium and compares them with those in equilibrium in literature. | |||||||||
| 収録物識別子 | ||||||||||
| 収録物識別子タイプ | NCID | |||||||||
| 収録物識別子 | AN00112500 | |||||||||
| 書誌情報 |
修道商学 巻 38, 号 1, p. 1-75, 発行日 1997-09-30 |
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