Acumulação de capital, equilíbrios múltiplos e path-dependence: uma análise a partir de um modelo pós-keynesiano de crescimento endógeno

Abstract

This article presents a post keynesian endogenous growth model in which there is two possible growth paths in the long run : a high growth path and a low growth path. This result is obtained because aggregate saving is a non-linear (quadratic) function of the current rate of profit. The selection of growth paths is made by the social convention about future rate of profit. There is only two possible social conventions : a optimistic convention and a pessimitic one; and we suppose that there is network externalities in the process of selection between these two conventions. In this kind of framework, the emergence of a social convention is a path-dependent process.