Abstract
The common interest of nearly all development and growth theories is the fundamental concept of the ‘harsh’ intertemporal consumption trade-off: Current consumption inevitably reduces future consumption possibilities in a with-or-without sense. This is true for the early ‘low-level-equilibrium-trap theories’ (Nelson, 1956 and Leibenstein, 1957), the neoclassical growth theory (Solow, 1956; Swan, 1956; Ramsey, 1928; Cass, 1965; and Koopmans, 1965) as well as the for endogenous growth theories (e.g. Lucas, 1988; Romer, 1990; and Rebelo, 1991).
This is a preview of subscription content, log in via an institution to check access.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Author information
Authors and Affiliations
Rights and permissions
Copyright information
© 2000 Springer-Verlag Berlin Heidelberg
About this chapter
Cite this chapter
Steger, T. (2000). Productive consumption and growth in developing countries. In: Transitional Dynamics and Economic Growth in Developing Countries. Lecture Notes in Economics and Mathematical Systems, vol 489. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-45784-5_4
Download citation
DOI: https://doi.org/10.1007/978-3-642-45784-5_4
Publisher Name: Springer, Berlin, Heidelberg
Print ISBN: 978-3-540-67563-1
Online ISBN: 978-3-642-45784-5
eBook Packages: Springer Book Archive