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Cumulative causation in a structural economic dynamic approach to economic growth and uneven development

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  • Araujo, Ricardo Azevedo

Abstract

A structural economic dynamic approach is distinguishable by its simultaneous considerations of supply and demand and their related effects wielded upon economic growth. However, properly considering cumulative causation requires a special framework for more fully accounting for technological progress, and not leaving it as simply exogenous. With this inquiry dimensions of Verdoorn's Law are selectively embedded in Pasinetti's multi-sector model, thus allowing us to better consider cumulative causation through rendering structural changes endogenous. In this setup, reconciliation between cumulative causation and balance of payments constrained views is shown to hold.

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Bibliographic Info

Article provided by Elsevier in its journal Structural Change and Economic Dynamics.

Volume (Year): 24 (2013)
Issue (Month): C ()
Pages: 130-140

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Handle: RePEc:eee:streco:v:24:y:2013:i:c:p:130-140

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Web page: http://www.elsevier.com/locate/inca/525148

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Keywords: Cumulative causation; Structural economic dynamic; Verdoorn's law; Balance-of-payment constrained growth;

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  1. Young, Allyn A., 1928. "Increasing Returns and Economic Progress," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 38, pages 527-542.
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  3. Araujo, Ricardo Azevedo & Teixeira, Joanílio Rodolpho, 2010. "Investment Specific Technological Progress and Structural Change," MPRA Paper 46079, University Library of Munich, Germany.
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Cited by:
  1. Hiroshi Nishi, 2014. "A Multi-Sectoral Balance-of-Payments-Constrained Growth Model with Sectoral Heterogeneity:International Competition, Productivity Dynamics, and Economic Growth," Discussion papers e-13-005, Graduate School of Economics Project Center, Kyoto University.
  2. Araujo, Ricardo, 2013. "Assessing the Dynamics of Terms of Trade in a Model of Cumulative Causation and Structural Change," MPRA Paper 46049, University Library of Munich, Germany.
  3. Araujo, Ricardo & Trigg, Andrew, 2013. "A Neo-Kaldorian Approach to Structural Economic Dynamics," MPRA Paper 49758, University Library of Munich, Germany.
  4. Trigg, Andrew & Ricardo, Araujo, 2014. "A Multi-sectorial Assessment of the Static Harrod Foreign Trade Multiplier," MPRA Paper 53242, University Library of Munich, Germany.
  5. Kemp-Benedict, Eric, 2014. "A Kaleckian Model with Intermediate Goods," MPRA Paper 57076, University Library of Munich, Germany.

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