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Structural Dynamics and Economic Growth

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Listed:
  • Arena,Richard
  • Porta,Pier Luigi

Abstract

Ever since Adam Smith, economists have been preoccupied with the puzzle of economic growth. The standard mainstream models of economic growth were and often still are based either on assumptions of diminishing returns on capital with technological innovation or on endogenous dynamics combined with a corresponding technological and institutional setting. An alternative model of economic growth emerged from the Cambridge School of Keynesian economists in the 1950s and 1960s. This model - developed mainly by Luigi Pasinetti - emphasizes the importance of demand, human learning and the growth dynamics of industrial systems. Finally, in the past decade, new mainstream models have emerged incorporating technology or demand-based structural change and extending the notion of balanced growth. This collection of essays reassesses Pasinetti's theory of structural dynamics in the context of these recent developments, with contributions from economists writing in both the mainstream and the Cambridge Keynesian traditions and including Luigi Pasinetti, William Baumol, Geoffrey Harcourt and Nobel laureate Robert Solow.

Suggested Citation

  • Arena,Richard & Porta,Pier Luigi (ed.), 2012. "Structural Dynamics and Economic Growth," Cambridge Books, Cambridge University Press, number 9781107015968.
    • Handle: RePEc:cup:cbooks:9781107015968
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    Citations

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    Cited by:

    1. B. Zorina Khan, 2017. "Designing Women: Consumer Goods Innovations in Britain, France and the United States, 1750-1900," NBER Working Papers 23086, National Bureau of Economic Research, Inc.
    2. Michael Assous, 2013. "Solow's Struggle with Medium-Run Macroeconomics: 1956-1995," Center for the History of Political Economy Working Paper Series 2013-17, Center for the History of Political Economy.
    3. Kazuhiro Kurose & Naoki Yoshihara, 2013. "On the Ricardian Invariable Measure of Value in General Convex Economies: Applicability of the Standard Commodity," DSSR Discussion Papers 17, Graduate School of Economics and Management, Tohoku University.
    4. Scazzieri, Roberto, 2018. "Structural dynamics and evolutionary change," Structural Change and Economic Dynamics, Elsevier, vol. 46(C), pages 52-58.
    5. Alain Raybaut, 2018. "Coupling and synchronization dynamics in endogenous business cycles models," Post-Print halshs-01941339, HAL.
    6. Michaël Assous & Muriel Dal Pont Legrand, 2020. "Growth Without Expectations: The Original Sin of Neoclassical Growth Models," Springer Studies in the History of Economic Thought, in: Arie Arnon & Warren Young & Karine van der Beek (ed.), Expectations, pages 121-130, Springer.
    7. Michaël Assous & Muriel Dal Pont Legrand & Harald Hagemann, 2016. "Business cycles and growth," Chapters, in: Gilbert Faccarello & Heinz D. Kurz (ed.), Handbook on the History of Economic Analysis Volume III, chapter 4, pages 27-39, Edward Elgar Publishing.
    8. Taalbi, Josef, 2020. "Evolution and structure of technological systems - An innovation output network," Research Policy, Elsevier, vol. 49(8).
    9. Yi-ping Fang & Fu-biao Zhu & Shu-hua Yi & Xiao-ping Qiu & Yong-jiang Ding, 2021. "Ecological carrying capacity of alpine grassland in the Qinghai–Tibet Plateau based on the structural dynamics method," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(8), pages 12550-12578, August.
    10. Ünal, Emre, 2014. "Export Price Stability and Compatibility of Euro under the Export- Biased Productivity Growth in Turkey: A Criticism against the Maastricht Inflation Criterion," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 1(1), pages 16-25.
    11. Pier Luigi Porta, 2013. "What remains of Sraffa's economics," Working Papers 242, University of Milano-Bicocca, Department of Economics, revised May 2013.
    12. Kurose, Kazuhiro & Yoshihara, Naoki, 2014. "On the Ricardian Invariable Measure of Value: The General Possibility of the Standard Commodity," UMASS Amherst Economics Working Papers 2014-08, University of Massachusetts Amherst, Department of Economics.
    13. Araujo, Ricardo Azevedo & Trigg, Andrew B., 2015. "A neo-Kaldorian approach to structural economic dynamics," Structural Change and Economic Dynamics, Elsevier, vol. 33(C), pages 25-36.
    14. Bianchi, Patrizio & Labory, Sandrine, 2022. "Dynamic gravitation and structural dynamics: From Smith to Modern theory," Structural Change and Economic Dynamics, Elsevier, vol. 60(C), pages 90-98.
    15. Sasakura, Kazuyuki, 2021. "A macroeconomic theory of price determination," Structural Change and Economic Dynamics, Elsevier, vol. 59(C), pages 214-227.
    16. Guilherme Riccioppo Magacho, 2017. "Structural change and economic growth: Advances and limitations of Kaldorian growth models," PSL Quarterly Review, Economia civile, vol. 70(280), pages 35-57.
    17. Andreoni, Antonio & Chang, Ha-Joon, 2019. "The political economy of industrial policy: Structural interdependencies, policy alignment and conflict management," Structural Change and Economic Dynamics, Elsevier, vol. 48(C), pages 136-150.
    18. Roberto Scazzieri, 2016. "Political Economy as Intellectual History: Pier Luigi Porta (1945-2016)," HISTORY OF ECONOMIC THOUGHT AND POLICY, FrancoAngeli Editore, vol. 2016(1), pages 119-132.
    19. Kurose, Kazuhiro, 2021. "Models of structural change and Kaldor’s facts: Critical survey from the Cambridge Keynesian perspective," Structural Change and Economic Dynamics, Elsevier, vol. 58(C), pages 267-277.
    20. Araujo, Ricardo Azevedo & Teixeira, Joanilio Rodolpho, 2021. "An appraisal of neo-Kaldorian theories from a structural economic dynamics perspective," Structural Change and Economic Dynamics, Elsevier, vol. 59(C), pages 247-255.
    21. Scazzieri, Roberto, 2021. "Structural dynamics and evolutionary change," Structural Change and Economic Dynamics, Elsevier, vol. 56(C), pages 365-371.
    22. Schilirò, Daniele, 2019. "Luigi L. Pasinetti: An intellectual biography by Mauro L. Baranzini and Amalia Mirante. An analysis and comment," MPRA Paper 95330, University Library of Munich, Germany.

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