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Heterogeneous Capital Goods And The Harrod–Balassa–Samuelson Effect

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  • Theodore Mariolis

Abstract

This paper shows that in a world of ‘production of commodities by means of commodities’ there is not an unambiguous relation between the long‐period relative commodity prices and the sectoral total factor productivities. Consequently, the Harrod–Balassa–Samuelson effect is not verified and/or makes no sense.

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  • Theodore Mariolis, 2008. "Heterogeneous Capital Goods And The Harrod–Balassa–Samuelson Effect," Metroeconomica, Wiley Blackwell, vol. 59(2), pages 238-248, May.
    • Handle: RePEc:bla:metroe:v:59:y:2008:i:2:p:238-248
    DOI: 10.1111/j.1467-999X.2007.00303.x
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    References listed on IDEAS

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    1. Kravis, Irving B & Lipsey, Robert E, 1988. "National Price Levels and the Prices of Tradables and Nontradables," American Economic Review, American Economic Association, vol. 78(2), pages 474-478, May.
    2. Bela Balassa, 1964. "The Purchasing-Power Parity Doctrine: A Reappraisal," Journal of Political Economy, University of Chicago Press, vol. 72, pages 584-584.
    3. Richard Arena & Jacques-Laurent Ravix, 1990. "Sraffa, trente ans après," Post-Print halshs-00462959, HAL.
    4. Bhagwati, Jagdish N, 1984. "Why Are Services Cheaper in the Poor Countries?," Economic Journal, Royal Economic Society, vol. 94(374), pages 279-286, June.
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    Cited by:

    1. Mariolis, Theodore, 2010. "Κριτική Έκθεση του "Νόμου της Πτωτικής Τάσης του Ποσοστού Κέρδους" του K. Marx: Κατανομή Εισοδήματος, Επισώρευση Κεφαλαίου και Τεχνολογική Μεταβολή στη Μακρά Περίοδο [Critical Exposition ," MPRA Paper 22461, University Library of Munich, Germany.
    2. Mariolis, Theodore, 2010. "A neo-Ricardian critique of the traditional static theory of trade, customs unions and common markets," MPRA Paper 23088, University Library of Munich, Germany.

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