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Dynamic Stability, Wage Subsidies and the Generalized Harris-Todaro Model

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  • M. ALl KHAN

    (Johns Hopkins University,Baltimore, Md. (U.S.A.).)

Abstract

In a recent contribution, Neary has shown that paradoxes and instability correspond in the two-sector model with proportional differentials in factor returns, leading one to downgrade the importance of these paradoxes. In this paper, we examine the extent to which this result extends to the Generalized Harris-Todaro Model of which the proportional differential setting is a simple special case. In developing the argument, we generate a variety of comparativestatics results of consequence for development theory. The implications of these results for the conduct of commercial policy are also brought out.

Suggested Citation

  • M. ALl KHAN, 1980. "Dynamic Stability, Wage Subsidies and the Generalized Harris-Todaro Model," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 19(1), pages 1-24.
  • Handle: RePEc:pid:journl:v:19:y:1980:i:1:p:1-24
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    Cited by:

    1. Eden S. H. Yu & Jai-Young Choi, 2013. "Factor Growth and Foreign Investment under Product Market Imperfection in the Harris–Todaro Economy," Pacific Economic Review, Wiley Blackwell, vol. 18(5), pages 584-602, December.
    2. repec:ebl:ecbull:v:6:y:2007:i:5:p:1-8 is not listed on IDEAS
    3. Chao, Chi-Chur & Yu, Eden S. H., 1995. "The shadow price of foreign exchange in a dual economy," Journal of Development Economics, Elsevier, vol. 46(1), pages 195-202, February.
    4. Chaudhuri, Sarbajit, 2007. "Foreign capital, welfare and urban unemployment in the presence of agricultural dualism," Japan and the World Economy, Elsevier, vol. 19(2), pages 149-165, March.
    5. Shigemi Yabuuchi, 1996. "Urban Unemployment And Development Policy: The Introduction Of An," Economics and Politics, Wiley Blackwell, vol. 8(3), pages 241-249, November.
    6. Beladi, Hamid & Chao, Chi-Chur & Hollas, Daniel, 2013. "How growing asset inequality affects developing economies," Journal of Economics and Business, Elsevier, vol. 68(C), pages 43-51.
    7. Gupta, Manash Ranjan, 1995. "Tax on foreign capital income and wage subsidy to the urban sector in the Harris-Todaro model," Journal of Development Economics, Elsevier, vol. 47(2), pages 469-479, August.
    8. Yabuuchi, Shigemi, 1997. "Urban unemployment, international labor mobility and welfare," Japan and the World Economy, Elsevier, vol. 9(1), pages 71-79, March.

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