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Capital Fop.Mation In Peasant Economies

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  • Deaton, Brady J.

Abstract

The role of capital formation in the process of economic development has been critically appraised by economists and policy-makers. 1 Identifying sources of capital and regulating the rate of capital growth are essential tasks of economic planning in developing nations. Economic growth models, particularly two-sector models, have been developed to describe the process of economic transformation with domestic savings and investment as the key driving forces in achieving a successful growth path. The analytical abstractness of two-sector models, however, does not provide a very accurate portrayal of peasant economic behavior, particularly savings and investment decisions. This weakness has prompted several writers to call for a more comprehensive approach in analyzing the structure of and advocating policy for developing nations. 2

Suggested Citation

  • Deaton, Brady J., 1977. "Capital Fop.Mation In Peasant Economies," 1977 Occasional Paper Series No. 1 190976, International Association of Agricultural Economists.
    • Handle: RePEc:ags:iaaeo1:190976
    DOI: 10.22004/ag.econ.190976
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    References listed on IDEAS

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    1. George Dalton, 1968. "Economics, Economic Development, and Economic Anthropology," Journal of Economic Issues, Taylor & Francis Journals, vol. 2(2), pages 173-186, June.
    2. Glynn McBride, 1967. "Toward Conceptualizing the Process of Development," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 49(5), pages 1188-1192.
    3. John C. H. Fei, 1965. "Per Capita Consumption and Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 79(1), pages 52-72.
    4. Kenneth H. Parsons, 1969. "Poverty as an Issue in Development Policy: A Comparison of United States and Underdeveloped Countries," Land Economics, University of Wisconsin Press, vol. 45(1), pages 52-65.
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