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Please use this identifier to cite or link to this item: http://hdl.handle.net/10400.5/2719

Title: The dynamics of growth and distribution in a spatially heterogeneous world
Authors: Brito, Paulo
Keywords: Optimal growth and distribution
Spatial growth
Optimal control of partial differential equations
Traveling waves
Fourier transforms
Turing instability
Issue Date: 2004
Publisher: ISEG – Departamento de Economia
Citation: Brito, Paulo. 2004. "The dynamics of growth and distribution in a spatially heterogeneous world". Instituto Superior de Economia e Gestão - DE Working papers nº 14-2004/DE/UECE
Series/Report no.: DE Working papers;nº 14-2004/DE/UECE
Abstract: This paper tries to reconcile growth and geographical economics by dealing di¬rectly with capital accumulation through time and space and by seeing growth convergence and spatial agglomeration as jointly generated by dynamic processes displaying pattern formation. It presents a centralized economy in which a Bergson-Samuelson-Millian central planner finds a flow of optimal distributions of consumption, subject to a spatial-temporal capital accumulation budget constraint. The main conclusions are: first, if the behavioral parameters are symmetric, but there is an asymmetric distribution of the capital stock, then the long run asymptotic distribution will be spatially homogeneous; second, if there is homogeneous distribution of the capital stock, but there is an asymmetric shock in any parameter, then the economy will converge towards a spatially heterogeneous asymptotic state; third, spatially heterogeneous asymptotic states will only emerge exogenously, not endogenously; fourth, the spatial propagation mechanism can give birth, when the production function is close to linear, to a Turing instability, which implies that for some parameter values, a conditionally stable spacetime distribution should display spatial pattern formation.
URI: http://hdl.handle.net/10400.5/2720
ISSN: 0874-4548
Publisher version: https://aquila1.iseg.utl.pt/aquila/getFile.do?method=getFile&fileId=26415
Appears in Collections:UECE - Documentos de Trabalho / UECE - Working Papers
DE - Documentos de trabalho / Working Papers
DE - Documentos de trabalho / Working Papers

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