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Please use this identifier to cite or link to this item: http://hdl.handle.net/10481/22430

Title: Tolerable recessións and long term growth
Authors: Montero Granados, Roberto
Issue Date: May-2005
Abstract: This article sets out from the coexistence of two kinds of growth, a determinist one to the steady state and a random one, which, systematically, let some economies escape from that steady state. The last is related with the innovation business processes, which are only possible in presence of both inventions in portfolio and a economic recession with certain characteristics. It show empirical evidence about the innovation process and growth deceleration, and its relationship with the cycle volatility in twenty developed countries as well as in a worldwide sample. The main conclusions point out the existence of two kinds of cycles: one have positive effect upon economic growth and the other not. The economic policy must try to reduce the influence of the last one but not the influence of those whose presence is essential in order to keep an enough economic growth rate in the long term.
Publisher: Universidad de Granada. Departamento de Economía Aplicada
Series/Report no.: Working paper;1/2005
Keywords: Economic growth
Economic cycle
Total factor productivity (TFP)
Volatility
Long term
URI: http://hdl.handle.net/10481/22430
Rights : Creative Commons Attribution-NonCommercial-NoDerivs 3.0 License
Citation: Montero-Granados, R. Tolerable recessión and long term growth. Granada: Universidad de Granada, Departamento de Economía Aplicada, 2005. (Working paper; 1/2005). [http://hdl.handle.net/10481/22430]
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