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

  • 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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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
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/525148

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  1. Ricardo Azevedo Araujo & JoanÌlio Rodolpho Teixeira, 2003. "An Extension of the Structural Change Model to International Economic Relations," Metroeconomica, Wiley Blackwell, vol. 54(4), pages 458-473, November.
  2. Araujo, Ricardo Azevedo & Teixeira, Joanílio Rodolpho, 2010. "Investment Specific Technological Progress and Structural Change," MPRA Paper 46079, University Library of Munich, Germany.
  3. Araujo, Ricardo Azevedo & Teixeira, Joanilio Rodolpho, 2010. "Structural Change and Macrodynamic Capabilities," MPRA Paper 30381, University Library of Munich, Germany.
  4. A. P. Thirlwall, 1983. "A Plain Man's Guide to Kaldor's Growth Laws," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 5(3), pages 345-358, April.
  5. 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.
  6. José A. Alonso & Carlos Garcimartín, 1999. "A New Approach to Balance-of-Payments Constraint: Some Empirical Evidence," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 21(2), pages 259-282, January.
  7. Reati, Angelo, 1998. "Technological revolutions in Pasinetti's model of structural change: productivity and prices," Structural Change and Economic Dynamics, Elsevier, vol. 9(2), pages 245-262, June.
  8. Setterfield, Mark, 1997. "'History versus Equilibrium' and the Theory of Economic Growth," Cambridge Journal of Economics, Oxford University Press, vol. 21(3), pages 365-78, May.
  9. Ricardo Azevedo Araujo & Gilberto Tadeu Lima, 2006. "A Structural Economic Dynamics Approach To Balance-Of-Payments-Constrained Growth," Anais do XXXIV Encontro Nacional de Economia [Proceedings of the 34th Brazilian Economics Meeting] 119, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
  10. A. P. Thirlwall, 1997. "Reflections on the Concept of Balance-of-Payments-Constrained Growth," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 19(3), pages 377-385, April.
  11. Cornwall, John & Cornwall, Wendy, 2002. "A demand and supply analysis of productivity growth," Structural Change and Economic Dynamics, Elsevier, vol. 13(2), pages 203-229, June.
  12. Young, Allyn A., 1928. "Increasing Returns and Economic Progress," History of Economic Thought Articles, McMaster University Archive for the History of Economic Thought, vol. 38, pages 527-542.
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  14. Kaldor, Nicholas, 1972. "The Irrelevance of Equilibrium Economics," Economic Journal, Royal Economic Society, vol. 82(328), pages 1237-55, December.
  15. Mark Setterfield, 2010. "Endogenous Growth: A Kaldorian Approach," Working Papers 1001, Trinity College, Department of Economics.
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