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Increasing Returns in Industry and the Role of Agriculture in Growth

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  • Canning, David J

Abstract

Despite diminishing returns in agriculture, the production of food is not a binding constraint on growth in industrialized countries. A model is constructed in which growth is associated with a movement of labor out of agriculture and into industry, where increasing returns prevail. If the increasing returns are large enough, long-run growth can be sustained by the production of even cheaper farm machinery. However, there may be a take-off problem if the economy starts near subsistence; it may be impossible to feed workers who move into industry in the periods before their output leads to greate r food production. Copyright 1988 by Royal Economic Society.

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Bibliographic Info

Article provided by Oxford University Press in its journal Oxford Economic Papers.

Volume (Year): 40 (1988)
Issue (Month): 3 (September)
Pages: 463-76

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Handle: RePEc:oup:oxecpp:v:40:y:1988:i:3:p:463-76

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References

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  1. Kaldor, Nicholas, 1975. "What Is Wrong with Economic Theory," The Quarterly Journal of Economics, MIT Press, vol. 89(3), pages 347-57, August.
  2. Kaldor, Nicholas [Lord], 1976. "Inflation and Recession in the World Economy," Economic Journal, Royal Economic Society, vol. 86(344), pages 703-14, December.
  3. Costabile, Lilia & Rowthorn, Bob, 1985. "Malthus's Theory of Wages and Growth," Economic Journal, Royal Economic Society, vol. 95(378), pages 418-37, June.
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Cited by:
  1. Blunch, Niels-Hugo & Verner, Dorte, 1999. "Sector growth and the dual economy model - evidence from Cote d'Ivoire, Ghana, and Zimbabwe," Policy Research Working Paper Series 2175, The World Bank.
  2. David E. Bloom & David Canning & Günther Fink & Jocelyn E. Finlay, 2007. "Fertility, Female Labor Force Participation, and the Demographic Dividend," NBER Working Papers 13583, National Bureau of Economic Research, Inc.
  3. Mervyn A. King & Mark Robson, 1989. "Endogenous Growth and the role of History," NBER Working Papers 3151, National Bureau of Economic Research, Inc.
  4. William Darity & Lewis S. Davis, 2005. "Growth, trade and uneven development," Cambridge Journal of Economics, Oxford University Press, vol. 29(1), pages 141-170, January.
  5. Casillas, Gabriel & Mitchell, Paul D., 2003. "Rural Credit Rationing And National Development Banks In Developing Countries," 2003 Annual meeting, July 27-30, Montreal, Canada 22199, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  6. Codrina Rada, 2007. "A growth model for a two-sector economy with endogenous productivity," Working Papers 44, United Nations, Department of Economics and Social Affairs.

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