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Leapfrogging, Growth Reversals and Welfare

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Figure

Table 1: Effect of no-commitment delay on growth rate loss, initial consumption gain and welfare gain, relative to no-delay case (τ = 0)
Figure 1: Plot of growth rate g varying delay  τ
Figure 2: Plot of initial consumption C 0  varying delay  τ
Figure 3: Plot of welfare W varying delay  τ
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