  We aim to generalize the results of Cai and Nitta (2007) by allowing both the
utility and production function to depend on time. We also consider an
additional intertemporal optimality criterion. We clarify the conditions under
which the limit of the solutions for the finite horizon problems is optimal
among all attainable paths for the infinite horizon problems under the
overtaking criterion, as well as the conditions under which such a limit is the
unique optimum under the sum-of-utilities criterion. The results are applied to
a parametric example of the one-sector growth model to examine the impacts of
discounting on optimal paths.
