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Consumption Structure and the Pattern of Economic Growth

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Authors
Doi, Junko
Issue Date
2003
Publisher
Seoul Journal of Economics
Citation
Seoul Journal of Economics 16 (No. 3 2003): 343-362
Keywords
Consumption structure; Sector-specific R&D; Two sector economic growth
Abstract
This paper studies the relationship between consumption structure and economic growth by constructing a two-sector variety expanding model. We classify the goods into two groups based on difference in the elasticity of substitution, and consider how the change of consumption structure affects economic growth. We consider the change as shifts in demand from the goods having higher elasticity (more competitive) to the other (less competitive) goods. As a result, we find that the growth rate is U-shaped.
ISSN
1225-0279
Language
English
URI
http://hdl.handle.net/10371/1301
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College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of EconomicsSeoul Journal of Economics vol.16(3) (Fall 2003)
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