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dc.contributor.authorMontero Granados, Roberto
dc.identifier.citationMontero-Granados, R. Tolerable recessión and long term growth. Granada: Universidad de Granada, Departamento de Economía Aplicada, 2005. (Working paper; 1/2005). []en_US
dc.description.abstractThis 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.en_US
dc.publisherUniversidad de Granada. Departamento de Economía Aplicadaen_US
dc.relation.ispartofseriesWorking paper;1/2005
dc.rightsCreative Commons Attribution-NonCommercial-NoDerivs 3.0 License
dc.subjectEconomic growthen_US
dc.subjectEconomic cycleen_US
dc.subjectTotal factor productivity (TFP)en_US
dc.subjectLong termen_US
dc.titleTolerable recessións and long term growthen_US

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