Munich Personal RePEc Archive

Beliefs incentives and economic growth

Jellal, Mohamed (2012): Beliefs incentives and economic growth.

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Abstract

We integrate a general social norm function which associates status to accumulation of capital and consumption into a simple model of endogenous growth. We show that societies which place a greater weight on capital as opposed to consumption will experience fast growth.Our results are consistent with those obtained by Baumol(1990) in the context of entrepreneurship and by Fershtman and Weiss (1991

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