Stability of the Mobile-Capital Harris-Todaro Model: Some Further Results
AbstractA necessary and sufficient condition for stability is derived for the mobile-capital Harris-Todaro model of rural to urban migration in developing countries when land is a scarce factor in ag riculture. The stability condition when land is ignored-that the urba n sector (comprising manufacturing industry and the urban unemployed) be more capital abundant-is no longer either necessary or sufficient for stability. Nevertheless, this condition always enhances stabilit y and it is sufficient (though not necessary) for stability in many c ircumstances (e.g., when land is separable in production from labor a nd capital). Intuitive explanations of these conditions are provided. Copyright 1988 by The London School of Economics and Political Science.
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Bibliographic InfoArticle provided by London School of Economics and Political Science in its journal Economica.
Volume (Year): 55 (1988)
Issue (Month): 217 (February)
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