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Politics Essay

Japans High Speed Growth Model and Extent Vietnam Followed the Model
Capital define by Kt and effective labor AtLt so that Y t = F(Kt, AtLt )=Ktv (AtLt)1-v where the level of knowledge At and the labor force Lt grow at the exogenous exponential rates g and n respectively. Another important feature of the model is that it states that each country necessarily converges to its own steady state and per capita income will only increase at the same rate as the level of the technology present. So this model provides whole basis and framework of how Japan has
Pages: 6 (1500 words), Essay
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