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A Neo-Kaldorian Approach to Structural Economic Dynamics

  • Araujo, Ricardo
  • Trigg, Andrew

From a neo-Kaldorian perspective, this paper seeks to establish the concepts of demand and productivity regimes in an open version of the pure labour Pasinettian model. In order to derive the demand regime, a disaggregated version of the Keynesian multiplier is derived for an open economy, while the productivity regime is built in terms of disaggregated Kaldor-Verdoorn laws. The upshot is a multi-sector growth model of structural change and cumulative causation, in which an extended version of the Pasinettian model to foreign trade may be obtained as a particular case. Furthermore, we show that the evolution of demand patterns, while being affected by differential rates of productivity growth in different sectors of the economy, also play an important role in establishing the pace of technical progress.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 50370.

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Date of creation: Oct 2013
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Handle: RePEc:pra:mprapa:50370
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  9. Ester Gomes da Silva & Aurora A.C. Teixeira, 2006. "Surveying structural change: seminal contributions and a bibliometric account," FEP Working Papers 232, Universidade do Porto, Faculdade de Economia do Porto.
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  13. Gualerzi, Davide, 1996. "Natural dynamics, endogenous structural change and the theory of demand: A comment on Pasinetti," Structural Change and Economic Dynamics, Elsevier, vol. 7(2), pages 147-162, June.
  14. Ricardo Azevedo Araujo & Gilberto Tadeu Lima, 2006. "A Structural Economic Dynamics Approach To Balance-Of-Payments-Constrained Growth," Anais do XXXIV Encontro Nacional de Economia [Proceedings of the 34th Brazilian Economics Meeting] 119, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics].
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  16. Dixon, R & Thirlwall, A P, 1975. "A Model of Regional Growth-Rate Differences on Kaldorian Lines," Oxford Economic Papers, Oxford University Press, vol. 27(2), pages 201-14, July.
  17. A. P. Thirlwall, 2013. "Economic Growth in an Open Developing Economy," Books, Edward Elgar, number 15208, December.
  18. Robert A. Blecker, 2009. "Long-Run Growth in Open Economies: Export-Led Cumulative Causation or a Balance-of-Payments Constraint?," Working Papers 2009-23, American University, Department of Economics.
  19. A. P. Thirlwall, 1983. "A Plain Man's Guide to Kaldor's Growth Laws," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 5(3), pages 345-358, April.
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  24. Mark Setterfield, 2010. "Endogenous Growth: A Kaldorian Approach," Working Papers 1001, Trinity College, Department of Economics.
  25. Ricardo Azevedo Araujo & Joanilio Rodolpho Teixeira, 2004. "A Pasinettian approach to international economic relations: the pure labor case," Review of Political Economy, Taylor & Francis Journals, vol. 16(1), pages 117-129.
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