Supply and Demand in the Theory of Long-run Growth: Introduction to a symposium on demand-led growth
AbstractRecent developments in growth theory have encouraged a revisionist interpretation of the field. According to this interpretation long-run growth should be, and always has been, interpreted as a supply-side process. The focus of this symposium is the macro-economics of demand-led growth. As a precursor to the contributions that follow, two central insights of demand-led growth theory are highlighted. First, chronic effective demand problems create a role for aggregate demand in determining the utilization rates of productive resources, even in the long run. Second, the demand-led actual rate of growth influences both the accumulation and productivity of factor inputs, and hence the economy's potential rate of growth.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Taylor & Francis Journals in its journal Review of Political Economy.
Volume (Year): 15 (2003)
Issue (Month): 1 ()
Contact details of provider:
Web page: http://www.tandfonline.com/CRPE20
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Fine, Ben, 2000. "Endogenous Growth Theory: A Critical Assessment," Cambridge Journal of Economics, Oxford University Press, vol. 24(2), pages 245-65, March.
- Cornwall, John & Cornwall, Wendy, 1994. "Growth Theory and Economic Structure," Economica, London School of Economics and Political Science, vol. 61(242), pages 237-51, May.
- Edward P. Lazear, 1999.
NBER Working Papers
7300, National Bureau of Economic Research, Inc.
- Kaldor, Nicholas, 1970. "The Case for Regional Policies," Scottish Journal of Political Economy, Scottish Economic Society, vol. 17(3), pages 337-48, November.
- Harcourt,G. C., 1972.
"Some Cambridge Controversies in the Theory of Capital,"
Cambridge University Press, number 9780521096720, October.
- Harcourt, G C, 1969. "Some Cambridge Controversies in the Theory of Capital," Journal of Economic Literature, American Economic Association, vol. 7(2), pages 369-405, June.
- Brouwer, Erik & Kleinknecht, Alfred, 1997.
"Keynes-plus? Effective demand and changes in firm-level R&D: an empirical note,"
Serie Research Memoranda
0038, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
- Brouwer, Erik & Kleinknecht, Alfred, 1999. "Keynes-Plus? Effective Demand and Changes in Firm-Level R&D: An Empirical Note," Cambridge Journal of Economics, Oxford University Press, vol. 23(3), pages 385-91, May.
- Khaled Hussein & A. P. Thirlwall, 2000. "The AK Model of "New" Growth Theory Is the Harrod-Domar Growth Equation: Investment and Growth Revisited," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 22(3), pages 427-435, April.
- Anthony P. Thirlwall, 2011.
"The Balance of Payments Constraint as an Explanation of International Growth Rate Differences,"
PSL Quarterly Review,
Economia civile, vol. 64(259), pages 429-438.
- Anthony Philip Thirlwall, 1979. "The Balance of Payments Constraint as an Explanation of International Growth Rate Differences," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 32(128), pages 45-53.
- Anthony Philip Thirlwall, 1979. "The Balance of Payments Constraint as an Explanation of International Growth Rate Differences," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 32(128), pages 45-53.
- Kaldor, Nicholas, 1975. "What Is Wrong with Economic Theory," The Quarterly Journal of Economics, MIT Press, vol. 89(3), pages 347-57, August.
- Thomas I. Palley, 1996. "Growth Theory in a Keynesian Mode: Some Keynesian Foundations for New Endogenous Growth Theory," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 19(1), pages 113-135, October.
- Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
- A. Asimakopulos, 1975. "A Kaleckian Theory of Income Distribution," Canadian Journal of Economics, Canadian Economics Association, vol. 8(3), pages 313-33, August.
- Stern, Nicholas, 1991. "The Determinants of Growth," Economic Journal, Royal Economic Society, vol. 101(404), pages 122-33, January.
- Paul M Romer, 1999.
"Increasing Returns and Long-Run Growth,"
Levine's Working Paper Archive
2232, David K. Levine.
- Blackburn, Keith, 1999. "Can Stabilisation Policy Reduce Long-Run Growth?," Economic Journal, Royal Economic Society, vol. 109(452), pages 67-77, January.
- Osmar Leandro Loaiza Quintero, 2012.
"La demanda agregada y la distribución del ingreso: un estudio a partir de los modelos de crecimiento kaleckianos,"
REVISTA CUADERNOS DE ECONOMÍA,
UN - RCE - CID.
- Loaiza Quintero, O.L., 2011.
"La demanda agregada y la distribución del ingreso: Un estudio a partir de los modelos de crecimiento kaleckianos
[Aggregate Demand and Income Distribution: A Kaleckian Growth Model Approach]," MPRA Paper 42667, University Library of Munich, Germany, revised 01 Apr 2011.
- Loaiza Quintero, O.L., 2011. "La demanda agregada y la distribución del ingreso: Un estudio a partir de los modelos de crecimiento kaleckianos
- Loaiza Quintero, Osmar Leandro & Sierra Ríos, Ana Milena, 2010.
"Salarios, demanda agregada y desempeño económico en Colombia: un debate no resuelto
[Wages, aggregate demand and economic performance in Colombia: an unsolved debate]," MPRA Paper 42669, University Library of Munich, Germany.
- MASCA Simona-Gabriela & JUDE Cristina, 2009. "The Vicious Circle Of Fdi And Consumption In Romania," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 2(1), pages 417-423, May.
- Jochen Hartwig, 2005. "Sind unsere gesamtwirtschaftlichen Probleme überhaupt lösbar?," KOF Working papers 05-112, KOF Swiss Economic Institute, ETH Zurich.
- Klein, Rolf, 2011.
"Wachstum durch das Nadelöhr begrenzter Budgets
[Growth through the Bottleneck of Limited Budgets]," MPRA Paper 35527, University Library of Munich, Germany.
- Amitava Krishna Dutt, 2006. "Aggregate Demand, Aggregate Supply and Economic Growth," International Review of Applied Economics, Taylor & Francis Journals, vol. 20(3), pages 319-336.
- Kai D. Schmid, 2010. "Medium-run macrodynamics and the consensus view of stabilization policy," Diskussionspapiere aus dem Institut fÃ¼r Volkswirtschaftslehre der UniversitÃ¤t Hohenheim 322/2010, Department of Economics, University of Hohenheim, Germany.
- Vasiliki Bozani, 2011. "NAIRU, Unemployment and Post Keynesian Economics," Working Papers 1105, University of Crete, Department of Economics.
- Bonaventura, Luigi & Caserta, Maurizio, 2004. "An adaptive evolutionary behaviour for the demand-led growth adjustment," MPRA Paper 2527, University Library of Munich, Germany.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty).
If references are entirely missing, you can add them using this form.