Advanced Search
MyIDEAS: Login to save this paper or follow this series

Harrod's Dynamics and the Kaldor-Thirlwall Export-led Growth

Contents:

Author Info

  • Celo, Giuseppe

    ()
    (Dipartimento di Scienze Economiche Universitàdi Bari)

  • Sportelli, Mario

    ()
    (Dipartimento di Scienze Economiche Universitàdi Bari)

Abstract

This paper investigates an open economy macrodynamic model on Harrodian lines. The analysis starts with a reconsideration of the post-Keynesian Thirlwall’s approach to growth in open economy. We cast doubt on the Thirlwall idea aimed at rendering the concept of Harrod’s foreign trade multiplier genuinely consistent with Harrod’s dynamics. Following a different procedure from Thirwall’s approach, we start from Harrod’s dynamics in a closed economy and investigate what happens when the foreign trade is introduced. An important result of our model is that, according to Harrod’s intuition, there is less cyclical instability in the open economy than in the closed one where chaotic instability prevails. Dynamics in our model exhibits a limit cycle. Finally, the model shows that the possibility of an export-led growth strictly depends on the technical progress dynamics.

Download Info

If 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.
File URL: http://www3.unisa.it/uploads/2551/104_dp.pdf
File Function: Full text
Download Restriction: no

Bibliographic Info

Paper provided by CELPE - Centre of Labour Economics and Economic Policy, University of Salerno, Italy in its series CELPE Discussion Papers with number 104.

as in new window
Length: 58 pages
Date of creation: 01 Oct 2007
Date of revision:
Handle: RePEc:sal:celpdp:0104

Contact details of provider:
Postal: via Giovanni Paolo II, 132, 84084 - Fisciano (SA), ITALY
Phone: +39 089 962152 -
Fax: +39 089 962049
Email:
Web page: http://www.celpe.unisa.it
More information through EDIRC

Related research

Keywords: International trade; Growth; Business fluctuations;

Find related papers by JEL classification:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:sal:celpdp:0104. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Paolo Coccorese).

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.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 profile, as there may be some citations waiting for confirmation.

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