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Cumulative causation in a structural economic dynamic approach to economic growth and uneven development

Listed author(s):
  • Araujo, Ricardo Azevedo

A structural economic dynamic approach is distinguishable by its simultaneous considerations of supply and demand and their related effects wielded upon economic growth. However, properly considering cumulative causation requires a special framework for more fully accounting for technological progress, and not leaving it as simply exogenous. With this inquiry dimensions of Verdoorn's Law are selectively embedded in Pasinetti's multi-sector model, thus allowing us to better consider cumulative causation through rendering structural changes endogenous. In this setup, reconciliation between cumulative causation and balance of payments constrained views is shown to hold.

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File URL: http://www.sciencedirect.com/science/article/pii/S0954349X1200063X
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Article provided by Elsevier in its journal Structural Change and Economic Dynamics.

Volume (Year): 24 (2013)
Issue (Month): C ()
Pages: 130-140

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Handle: RePEc:eee:streco:v:24:y:2013:i:c:p:130-140
DOI: 10.1016/j.strueco.2012.09.001
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/525148

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