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CANNON WAS RIGHT BUT INCOMPLETE: FRANKEL WAS A NEGLECTED EARLY CONTRIBUTION TO GROWTH THEORY

Abstract

This paper reexamines an important early contribution to the growth literature highlighted in 2000 by Cannon in the American Economic Review: "The production function in allocation and growth: A synthesis" by Marvin Frankel in 1962. First this contribution provides a formal proof in the continuous time framework of trajectories that are not provided by Frankel and Cannon. Second it shows that in this framework poverty traps are possible while it was not detected by these authors.
Ce document revient sur une contribution ancienne en théorie de la croissance remise au gout du jour en 2000 par Cannon dans l'American Economic Review: "The production function in allocation and growth: A synthesis" de Marvin Frankel en 1962. Ce document présente d'une part la preuve d'existence de solutions en temps discret absente dans les deux contributions. Et, d'autre part, démontre que dans ce cadre il existe un piège à pauvreté qui n'a pas été détecté par ces deux auteurs.
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halshs-00826519 , version 1 (27-05-2013)

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  • HAL Id : halshs-00826519 , version 1

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Charles-Henri Dimaria. CANNON WAS RIGHT BUT INCOMPLETE: FRANKEL WAS A NEGLECTED EARLY CONTRIBUTION TO GROWTH THEORY. 2012. ⟨halshs-00826519⟩
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