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A Model of Kaldorian Traverse: Cumulative Causation, Structural Change and Evolutionary Hysteresis

In: The Economics of Demand-Led Growth

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  • Mark Setterfield

Abstract

The Economics of Demand-Led Growth is a collection of specially written essays that develop and apply the theory of demand-led growth. Long-run growth is usually portrayed as a supply-determined process. The contributions to this volume, however, are rooted in the theory of demand-led growth. In addition to general discussions of the role of demand in the long-run, the volume contains essays in the Kaldorian and Kaleckian traditions, and a section on the relationship between demand-led growth and structural change. The conclusion reached is that current neglect of the role of demand in analyses of long-run growth is unwarranted.

Suggested Citation

  • Mark Setterfield, 2002. "A Model of Kaldorian Traverse: Cumulative Causation, Structural Change and Evolutionary Hysteresis," Chapters, in: Mark Setterfield (ed.), The Economics of Demand-Led Growth, chapter 12, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:1864_12
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    Cited by:

    1. Araujo, Ricardo Azevedo, 2013. "Cumulative causation in a structural economic dynamic approach to economic growth and uneven development," Structural Change and Economic Dynamics, Elsevier, vol. 24(C), pages 130-140.
    2. Setterfield, Mark & Gouri Suresh, Shyam, 2016. "Multi-agent systems as a tool for analyzing path-dependent macrodynamics," Structural Change and Economic Dynamics, Elsevier, vol. 38(C), pages 25-37.
    3. Aistleitner, Matthias & Gräbner, Claudius & Hornykewycz, Anna, 2021. "Theory and empirics of capability accumulation: Implications for macroeconomic modeling," Research Policy, Elsevier, vol. 50(6).

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    Economics and Finance;

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