Ability, Long-run Growth, and Poverty Traps" Accepted: 5
2005 Published online: 12 June 2006 Journal of Economics
(JEZN), Vol. 89 No.1 pp 37-58. [Abstract]
The long version of this paper is here.
 "The Mechanics of Economic Growth through Capital
Accumulation and Technological Progress," 2007, The Japanese Economic Review.
Vol. 58, No. 4, pp.
latest version is here.
Growth" 2006, Economics Bulletin,
No. 3 pp. 1-13.[Abstract]
Role of Expectations in a Specialization-driven
Growth Model with Endogenous Technology ChoiceĀhĀiwith
Division of Labor
Costs Vol. 2, No. 1 (2006) pp.55-69.
[DP version is here
Discussion Peper Series No.625)]
 "Dynamical Analysis of the R&D-based Growth Model with a Regime Switch" 2013 Journal of Economics
(JEZN), [DP version is here
(U. of TSUKUBA SSM
Discussion Peper Series No.1297)] [Abstract]
 "Does international knowledge spillover always leads to a positive trickle down?" 2013, Journal of the Japanese and International Economies. DP version (U. of Tsukuba SSM DP series No,1298) is here. [Abstract]
"Multiple Steady States and Indeterminacy in the Uzawa-Lucas Model with Educational Externalities" Accepted: March 2017, Journal of Economics(JEZN) [Abstract][DP Version(2015, University of Hyogo, Discussion Paper Series áā 86) is here]
 "When is the Spirit of Capitalism Effective for Economic Development?" International Journal of Economics and Finance Vol.10, No.3, March, 2018.
Working in Progress/Under Review
 "Multiple Steady States and Indeterminacy in a Uzawa-Lucas model with Labor-leisure Choice" (with Hobara, N.)
 R&D-based Growth, Poverty Traps, and Multiple Steady States in an Endogenous Growth Model with R&D externalty 2016,
University of Hyogo, Discussion Paper Series áā 87 [here]
 "Market Competitiveness, Steady States Multiplicity and Optimal Growth Policy in the Romer model with Exogenous Imitations"
Works in Surcease
 "Inflation and Growth, Revisited" (with Nao
 "Flexibility and Endegenous Growth"
 "Entry, Exit, and Endogenous Growth" (with
Hori) 2009, GCOE Discussion
(Old version is here)
 "Polarization, Regime Switch and Economic
the Process of Economic Development" 2008 mimeo
[Long version] [Short version]
 "Long-run Growth and
Poverty Traps in an
with Endogenous Raw and Educated Labor Supply" 2006,
IAEA Discussion Paper
 "Polarization, Catch up, and International
Specialization in an Integrated Model of Human Capital Accumulation and
R&D", 2006, 21COE
IAEA Discussion Paper
 "R&D Structure
and Economic Performance" 2003 mimeo
 "R&D-based Growth, Human Capital
Economic Policies " 2005 mimeo
"The Mechanics of Economic Growth
through CapitalAccumulation and Technological Progress"
This study develops a model in which capital is used in the production
of final goods and R&D activities. This arrangement generates
changes in the equilibrium capital allocation in proportion to the
capital accumulation, which engenders a regime change from
capital-based growth with decreasing returns to R&D-based
growth. These two growth phases account for the polarization of
economies. A non-occurrence of this regime change will suspend an
economy's growth, leading it into a poverty trap. The multiple
equilibria on capital allocation, which emerge during the middle stages
of capital accumulation, account for leapfrogging and the instability
of economic growth.
accumulation, R&D, Regime change, poverty traps, polarization.
"Dynamical Analysis of the R\&D-based Growth Model with a Regime Switch"
empirical studies suggest that advanced economies experience a growth
regime switch from factor accumulation to knowledge accumulation. To
investigate the mechanism of such a regime switch, this study develops
a concise and flexible dynamic model based on Romer (1990) by
introducing two types of endogenously supplied R&D input capital.
The model replicates the growth patterns of developed and
underdeveloped nations, clarifies the important role that capital plays
in the difference between them, and presents several implications for
interest-rate subsidies and official development assistance. Further,
it shows that if a country enjoying long-run growth has little initial
capital, its initial economic development will be based on capital
accumulation. When the capital stock becomes sufficient for supporting
R&D, the economy will achieve long-run growth through R&D.
Keyword: dynamics of regime switch, capital-accumulation-based growth, R&D-based growth, effectiveness of economic policies
"Does international knowledge spillover always leads to a positive trickle down?"
This paper demonstrates the negative effects of positive
international knowledge spillovers on economic growth. In other words,
we obtain the possibility that educational investment for human capital
is crowded out under global economic growth. To this end, we assume the
phenomenon of international knowledge spillover, effects of population
growth on human capital accumulation, and non-unity intertemporal
elasticity of substitution in an endogenous growth model along the
lines developed by Arnold. This model comprises R&D activities
along the lines proposed by Jones and human capital accumulation along
the lines proposed by Uzawa and Lucas. The results show that even if
international spillover increases, low-growth traps without human
capital investment emerge in some cases, for example, an economy with a
large intertemporal elasticity of substitution and a high population
Keywords: R&D-based growth; human capital accumulation; international knowledge spillover
Long-run Growth, and Poverty
This study establishes an R\&D-based growth model that includes
functional difference between labor and human capital in the production
of goods. In our analysis, the human capital is used by the managers in
the manufacturing process. Such an allocation of human capital yields
three possible steady states: endogenous growth, poverty traps, and
multiple equilibria. Economies are sorted into these steady states
according to the endowments of labor, human capital, and knowledge.
Thus, the obtained steady states explain some economic growth patterns,
such as polarization and leapfrogging of economies.
R&D, multiple equilibria, poverty traps, long-run growth
Switch and Economic
Policies in the Process of Economic Development"
This study develops an eondogenous growth model that depicts the
process of economic development, such as a regime switch from
capital-accumulation-based growth to R&D-based growth and the
phenomenon falling into poverty traps. Furthermore, we also obtained
several implications of economic policies, as follows.
rate subsidies promote economic welfare. Development aids through the
provision of factor stocks such as capital and technology are
ineffective for an economy to ride on a steady growth path. Promoting
efficiency in goods production and/or R&D, on the other hand,
economies, R&D-based growth, poverty traps, regime switch of
engine, effectivity of economic policies
up, and International
Specialization in an Integrated Model of Human Capital Accumulation and
The endogenous growth model has given a central role for long-run
growth on knowledge. The present paper develops an
endogenous growth model with both non-embodied and embodied knowledge
accumulations (respectively R&D activities and human capital
accumulation), and international non-embodied knowledge spillover, and
demonstrates the role of the knowledge on both autarky and
international economies. In the autarky model, there exist two types of
steady growth path; one is the growth path with positive educational
investment, and the other is semi-endogenous no education trap. Opening
up the model by introducing international knowledge spillover, the
countries both in positive education may show some growth patterns such
as catch up, polarization, and international specialization.
growth, human capital accumulation, international knowledge spillover
"Multiple Steady States and Indeterminacy in the Uzawa-Lucas Model with Educational Externalities"
This study attempts to endogenize educational
efficiency, a critical exogenous parameter in the Uzawa--Lucas model,
where human capital accumulation plays an important role in economic
growth. Human capital accumulation is a puzzle; in addition to the
broadly recognized positive spillover of human capital, educated human
capital productivity occasionally shows a decreasing trend in the
economic growth process (Jones 1995; Pritchett 2001). Incorporating
these phenomena as educational externalities into the Uzawa-Lucas
model, we analyze the properties of endogenous growth and stagnation.
The model yields multiple steady states under intertemporal
substitution elasticity larger than 1. The results reveal that a steady
state with a higher growth rate demonstrates indeterminacy, and the
selection of the steady states depends on expectation formation.
Keywords: Uzawa-Lucas model; Negative Growth Effects on Education; Educational externality; Local and global indeterminacy
Assuming that there exists a preference for luxury goods and a
knowledge spillover from luxury goods production to goods production,
this paper constructs an endogenous economic growth model. The model
predicts two steady states: one is a steady positive growth state with
regard to luxury goods production, and the other is a zero growth state
in the absence of luxury goods production. Thus, this study examines
the polarization of economies based on luxury goods consumption.
endogenous growth, poverty traps