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經濟成長之失衡動態分析A Disequilibrium-Dynamic Approach to Economic Growth

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(3) A disequilibrium-dynamic approach to economic growth NSC87-2415-H-110-002  

(4)          !"# E-mail: Johnli@mail.nsysu.edu.tw $%    

(5)     !"#$%&'()*+,./0 12345678 9: ;<1=>?@AB%&CBD 6EFG) H1%6+)I JKLM12,3NOPQR S:TGU VWXYZS [U\]^_`aLbcde  !"fghIijklm+Zn opqar\st,  uvAB #wxyIvK z{|}~&$'()*+,./01233NO45678,9 :;0<=>?@ABCDEFGHIJ KLM3NAB €%‚)ƒ IxyKO   PQRS%TUVW% XYZ[  . Though such theories give a clear description to growth itself, they cannot offer a reasonable explanation for growth performances of different economies in different times, which do (not necessarily) tend to converge. In contrast, viewing short-term disequilibrium as possibly the usual state of the economy and analyzing its disequilibrium-adjustment dynamic system, the study plans to investigate how steady-state growth and its temporary adjustment path may be affected by certain kinds of initial conditions. We offer a view different from the main-stream growth theories in explanation for the question if the growth performances of different countries tend to converge: the study shows that they will (not) tend to converge if a series of impacts to the exogenous capital formation are (not) homogenous in general.. Abstract  .  Keywords: disequilibrium dynamics, hysteresis, economic growth. The main-stream growth theories usually view growth as a stable moving equilibrium that is uniquely (or limitedly) determined..

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(15) #ì+4Ùæçt(450O        @!"Ca‚(ˆý!" !( h {+IqÙø6˜ƒ„37 @NO 0¹ w8†‡aC!"tðûtZ3 —  “ ˆ a = > X Y Z [ ‰ Š chÍÜÉÏhÍÉËfÏiɋgdÌeÌÊhŠCÚ">(˜ 龿Œ¶m{+3,F<$eŽ„ z@!"CmO@!"¶éf >¾¿ 0KgÒw0{+˜5±3°ˆ #W3(@!"˜éِ‘rO  3no´pªÉ²±:Za žZUa ³TGLbvq~ LbZ6rs1aTGU ]^YÉijst G H1. †: t%). ‚u> ·¸12,v  w=DãxØÅ@~P R12 ^‚yz;<3NO QµPc †57{|]á}~,v „ã 3NO.IdeZ aú3 à+pq~ €¸ 12 'D‚ƒG„QHìâ,    . stationary equilibrium in linear models”, Review of Economic Studies, 52, pp. 353-7.. 4.. van de Klundert, Theo C. M. J. and Anton B.. T.. M.. van. Schaik. (1990):. “Unemployment persistence and loss of productivity. capacity:. A. Keynesian. approach”, Journal of Macroeconomics, 12, pp. 363-80.. 5.. Li, Shul-John (1995): “Price flexibility, expectations. and. dynamic. Keynesian. propositions,” Discussion Paper No: 303, Faculty. of. Economics, University of. Bielefeld, Germany;a previous version was presented at the annual meeting of the ‘Verein fuer Socialpolitik’, Jena, Sep. 1994.. 6.. Li,. Shul-John. inflation,. (1996):. stagflation,. “Hysteresis,. and depression,”. Discussion Paper No: 323, Faculty of Economics,. University. of. Bielefeld,. Germany;a previous version was presented at the 11th Annual Congress of the European Economic Association, Istanbul, Aug. 1996.. 7.. Mankiw, N. Gregory (1995): “The Growth of. nations”,. Brookings. Papers. on. Economic Activity, No. 1, pp. 275-310.. 1. Barro, Robert J. and Xavier Sala-i-Martin. 2.. 8.. (1995): Economic Growth, New York:. the successful state”, European Economic. McGraw-Hill.. Review, 41, pp. 411-42.. 9.. Fischer, Stanley (1972): “Keynes-Wicksell. Tobin, James (1975): “Keynesian models. and neoclassical models of money and. of recession and depression,” American. growth,” American Economic Review, 51,. Economic Review, 65, pp. 195-202.. 10. Tobin, James (1993): “Price flexibility and. pp. 1-17.. 3.. Rodrik, Dani (1997): “ The ‘paradoxes’ of. Giavazzi, Francesco and Charles Wyplosz. outputstability: An old Keynesian view,”. (1985): “The zero root problem: A note. Journal of EconomicPerspectives, 7, pp.. on the dynamic determination of the. 45-65. 4.

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