Aniket, K;
(2018)
Solow-Swan growth model and the fortunes of the commons.
(MPRA Paper
87921).
Munich Personal RePEc Archive: Munich, Germany.
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Abstract
The traditional Solow-Swan growth framework has only one kind privately owned capital. Output saved in a period is transformed into privately owned capital through the saving channel. We add a fiscal channel that taxes output and transforms it into public goods subject to congestion. We show that under the standard conditions the steady state of the economy is determined by the interaction of these two channels and prosperity for a country is only attained if both channels work properly.
| Type: | Working / discussion paper |
|---|---|
| Title: | Solow-Swan growth model and the fortunes of the commons |
| Open access status: | An open access version is available from UCL Discovery |
| Publisher version: | https://mpra.ub.uni-muenchen.de/87921/ |
| Language: | English |
| Additional information: | This version is the version of record. For information on re-use, please refer to the publisher’s terms and conditions. |
| Keywords: | Economic Growth, Public Goods, Infrastructure, Congestion |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > UCL BEAMS UCL > Provost and Vice Provost Offices > UCL BEAMS > Faculty of the Built Environment |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10052422 |
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