Regional Growth with Productivity and Amenity Differentials
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Regions are different in living conditions and productivity. It is observed that tropical people tended to spend less time and energies on working and thinking than people living in regions with proper climates. Regional differentials in natural conditions and cultural attitudes towards work and knowledge play a substantial role in determining regional differences in economic evolution. Nevertheless, economics has not provided a consistent framework to analyze the role of regional conditions such as natural resources and cultural attitudes (toward playing, working, saving, learning, creativity) on economic evolution. This chapter proposes a model of regional economic development based on the growth theory proposed in (1999).
KeywordsUtility Function Wage Rate Capital Stock Labor Movement Total Capital
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