big push;
choice of technology;
coordination failure;
increasing returns due to specialization;
D O I:
10.1016/S0165-1765(99)00081-6
中图分类号:
F [经济];
学科分类号:
02 ;
摘要:
In this paper, we consider industrialization as the situation in which economy achieves high productivities by an increase in the degree of specialization. We study it by introducing intermediate goods sectors in the Murphy-Shleifer-Vishny model of the big push, and show the existence of multiple Pareto ranked equilibria. (C) 1999 Elsevier Science S.A. All rights reserved.