Producers, parasites and poverty traps

Artikel

We studied the population dynamics of producers and parasites in a developing economy through the Lotka–Volterra model. Our baseline model found a cyclical equilibrium between these two groups of agents. When the equilibrium output is low, we propose that economy is in a poverty trap, such that the only way to achieve superior equilibrium is through improvements in the institutional parameters (e.g. property rights). By adding expectations and time delays, the cyclical result may no longer hold. Nevertheless, institutional improvements promote development through an increase in the level of producers and a decrease of parasites. Still, such improvements positively affect the stability of the modified model.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: EconomiA ; ISSN: 1517-7580 ; Volume: 16 ; Year: 2015 ; Issue: 3 ; Pages: 310-320 ; Amsterdam: Elsevier

Classification and Topics

• Classification: Wirtschaft ; Central Banks and Their Policies ; Monetary Policy
• Subject: Lotka–Volterra model ; Institutions ; Economic development ; Parasites

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): de Carvalho Griebeler, Marcelo ; Hillbrecht, Ronald Otto
• Event: Veröffentlichung
• (who): Elsevier
• (where): Amsterdam
• (when): 2015

Further information

• DOI: doi:10.1016/j.econ.2015.07.002
• Handle: http://hdl.handle.net/10419/179602
• Last update: 10.03.2025, 11:44 AM CET