Economic Growth and Change in Industrial Structure

2015 Fiscal Year Final Research Report

• Project/Area Number: 25780130
• Research Category: Grant-in-Aid for Young Scientists (B)
• Allocation Type: Multi-year Fund
• Research Field: Economic theory
• Research Institution: Yokohama National University
• Principal Investigator: FUJIO MINAKO 横浜国立大学, 国際社会科学研究院, 准教授 (80431394)
• Project Period (FY): 2013-04-01 – 2016-03-31
• Keywords: 経済成長 / 経済動学 / 産業構造

Outline of Final Research Achievements

This research project focuses on an optimal economic growth model with multiple heterogeneous industries and analyzes how an economy behaves dynamically when there is a change in industrial structure which is captured by a change in relative capital intensities between two industries. We consider the case when one industry produces capital intensive consumption goods and the other produces labor intensive investment goods. On one hand, if a difference of capital intensities between two industries is large enough, there is less fluctuations and an optimal program converges monotonically to the long-run equilibrium. On the other hand, if the difference becomes small and the structures of two industries are close enough, an optimal program becomes more complicated and there is continuous fluctuations around the long-term equilibrium.

Free Research Field

経済成長、経済動学理論