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Western Textbook Theory and the Developing Countries


    (University of Bradford, England.)

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    This paper deals with the adaptation of traditional Western textbook economic theory to the problems of developing countries. It treats wages, rents and interest together with Keynesian and classical economy-wide models from this standpoint. The value of labour's marginal product will vary with the wage, rents with the land tenure system and interest rates with the size of and security on a loan. Inflationary Keynesian-inspired growth is likely to be unacceptable. Advance must therefore occur in a supply-originated classical manner.

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    Article provided by Pakistan Institute of Development Economics in its journal The Pakistan Development Review.

    Volume (Year): 19 (1980)
    Issue (Month): 2 ()
    Pages: 143-157

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    Handle: RePEc:pid:journl:v:19:y:1980:i:2:p:143-157
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    1. Bela Balassa & Daniel M. Schydlowsky, 1968. "Effective Tariffs, Domestic Cost of Foreign Exchange, and the Equilibrium Exchange Rate," Journal of Political Economy, University of Chicago Press, vol. 76, pages 348.
    2. Anthony Bottomley, 1975. "Interest Rate Determination in Underdeveloped Rural Areas," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 57(2), pages 279-291.
    3. Anthony Bottomley, 1964. "The Structure of Interest Rates in Underdeveloped Rural Areas," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 46(2), pages 313-322.
    4. Anthony Bottomley, 1963. "The Premium for Risk as a Determinant of Interest Rates in Underdeveloped Rural Areas," The Quarterly Journal of Economics, Oxford University Press, vol. 77(4), pages 637-647.
    5. A.R. Kemal & Talat Alauddin, 1974. "Capacity Utilization in Manufacturing Industries of Pakistan," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 13(3), pages 231-244.
    6. Anthony Bottomley, 1963. "The Cost Of Administering Private Loans In Underdeveloped Rural Areas," Oxford Economic Papers, Oxford University Press, vol. 15(2), pages 154-163.
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