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The Two-Gap Paradigm In The Chinese Case: A Pedagogical Exercise

In: Selected Papers Of Lawrence R Klein: Theoretical Reflections And Econometric Applications

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  • Kanta Marwah

    (Carleton University, Canada)

Abstract

There is no accepted paradigm for the macro model of a developing country. A two-gap model, which is, in fact, an open economy version of the Harrod-Domar Model, has been constructed for China based on recently available national accounting data. Some problems of growth in relation to domestic policies and the trade accounts can be handled for this type of system. The small two-gap model also serves as a useful pedagogical tool, and is very easily programmed for student use.

Suggested Citation

  • Kanta Marwah, 1997. "The Two-Gap Paradigm In The Chinese Case: A Pedagogical Exercise," World Scientific Book Chapters, in: Kanta Marwah (ed.), Selected Papers Of Lawrence R Klein: Theoretical Reflections And Econometric Applications, chapter 32, pages 569-576, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789812830333_0032
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    Keywords

    Macroeconomics: Theory; Policy Formation; Reconsiderations; Macroeconometric Models: Methodology; Forecasting; Debate; Prospects; International Economics: Capital Flows; Exchange Rates; Expectations;
    All these keywords.

    JEL classification:

    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General

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