Uzawa (1961) has shown that balanced growth requires technological progress to be strictly Harrod neutral (purely labor-augmenting). This paper offers a slightly more general variant of the theorem that does not require assumptions about savings behavior or factor pricing and is much easier to prove.
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Article provided by Economics Bulletin in its journal Economics Bulletin.
Volume (Year): 5 (2006) Issue (Month): 6 () Pages: 1-5 Download reference. The following formats are available: HTML,
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Handle: RePEc:ebl:ecbull:v:5:y:2006:i:6:p:1-5
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Find related papers by JEL classification: E1 - Macroeconomics and Monetary Economics - - General Aggregative Models E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
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