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Existence of an optimal growth path with endogenous technical change

Chichilnisky, Graciela and Gruenwald, Paul F. (1994): Existence of an optimal growth path with endogenous technical change. Published in: Economic Letters , Vol. 48, (1995): pp. 433-439.

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Abstract

We prove the existence of an optimal growth path in an economy where goods that are not consumed are wither invested in next period or in R&D with overall non-convex production possibilities, ising results of non-linear functional analysis in weighted Lp spaces of Chichilnisky (Journal of Optimication Theory and Applications, 1977, 61, no. 2. 504-520) and (Journal of Mathematical Economics, 1981, 8, 1-14).

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