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'Looking at the Other Side of the Coin': The Relationship between Classical Growth and Early Development Theories

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  • Maiju Perälä

Abstract

This paper extends the history of thought narrative on Allyn Young to recognize the close relationship that the classical growth theory has with the early development theory, as Young's externalities-fuelled, cumulative growth process influenced the theoretical thought of the early development theory pioneers, Paul Rosenstein-Rodan and Ragnar Nurkse.

Suggested Citation

  • Maiju Perälä, 2003. "'Looking at the Other Side of the Coin': The Relationship between Classical Growth and Early Development Theories," WIDER Working Paper Series DP2003-38, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:dp2003-38
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    File URL: https://www.wider.unu.edu/sites/default/files/dp2003-38.pdf
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    References listed on IDEAS

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    1. Blaug,Mark, 1997. "Economic Theory in Retrospect," Cambridge Books, Cambridge University Press, number 9780521577014.
    2. Sandilands, Roger J., 2000. "Perspectives on Allyn Young in Theories of Endogenous Growth," Journal of the History of Economic Thought, Cambridge University Press, vol. 22(3), pages 309-328, September.
    3. Kaldor, Nicholas, 1972. "The Irrelevance of Equilibrium Economics," Economic Journal, Royal Economic Society, vol. 82(328), pages 1237-1255, December.
    4. Arthur Lewis, W., 1988. "The roots of development theory," Handbook of Development Economics, in: Hollis Chenery & T.N. Srinivasan (ed.), Handbook of Development Economics, edition 1, volume 1, chapter 2, pages 27-37, Elsevier.
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    7. William J. Baumol, 1999. "Retrospectives: Say's Law," Journal of Economic Perspectives, American Economic Association, vol. 13(1), pages 195-204, Winter.
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