IDEAS home Printed from https://ideas.repec.org/a/oup/cambje/v27y2003i4p583-595.html
   My bibliography  Save this article

Effective demand and the terms of trade in a dual economy: a Kaldorian perspective

Author

Listed:
  • Amit Bhaduri

Abstract

Along the line suggested by Nicholas Kaldor, the paper incorporates into the analysis of a dual economy effective demand as a problem of generation of agricultural surplus and its realisation into purchasing power for industrial goods. Through this approach, it is shown how one obtains empirical predictions about uneven sectoral growth rates, as well as an effect of the movement in the terms of trade on long-term industrial growth which is contrary to that suggested by Lewis. The paper also specifies the process of dynamic adjustment of industrial growth in a self-reinforcing circular flow under conditions of sufficiently high agricultural growth, extending the effective demand argument in a dual economy. Copyright 2003, Oxford University Press.

Suggested Citation

  • Amit Bhaduri, 2003. "Effective demand and the terms of trade in a dual economy: a Kaldorian perspective," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 27(4), pages 583-595, July.
    • Handle: RePEc:oup:cambje:v:27:y:2003:i:4:p:583-595
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. John E. King, 2010. "Kaldor and the Kaldorians," Chapters, in: Mark Setterfield (ed.), Handbook of Alternative Theories of Economic Growth, chapter 7, Edward Elgar Publishing.
    2. Antonio Andreoni, 2011. "Manufacturing Agrarian Change - Agricultural production, inter-sectoral learning and technological capabilities," DRUID Working Papers 11-13, DRUID, Copenhagen Business School, Department of Industrial Economics and Strategy/Aalborg University, Department of Business Studies.
    3. Saumya Chakrabarti & Anirban Kundu, 2009. "Formal-Informal Sectors¡¯ Conflict: A Structuralist Framework For India," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 34(2), pages 27-67, December.
    4. Shantanu Roy & C. Saratchand, 2023. "On the political economy of corporate encroachment in agriculture: short term macroeconomic concerns," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 40(3), pages 869-897, October.
    5. Saumya Chakrabarti, 2014. "The formal–informal dichotomy: Revisiting the debate on the agriculture–industry linkage," The Economic and Labour Relations Review, , vol. 25(1), pages 154-178, March.
    6. Chakrabarti, Saumya, 2014. "Agriculture-Industry Relation and the Question of ‘Home Market’: Towards Closing a Century’s Old Debate," Indian Journal of Agricultural Economics, Indian Society of Agricultural Economics, vol. 69(2), pages 1-28.
    7. Chakrabarti, Saumya & Kundu, Anirban & Nandi, Alok Kumar, 2011. "Farm–Non-Farm Linkage in India: A Structuralist Perspective," Indian Journal of Agricultural Economics, Indian Society of Agricultural Economics, vol. 66(2), pages 1-20.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:oup:cambje:v:27:y:2003:i:4:p:583-595. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Oxford University Press (email available below). General contact details of provider: https://academic.oup.com/cje .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.