HETEROGENEOUS CAPITAL GOODS AND THE HARROD-BALASSA-SAMUELSON EFFECT

Theodore Mariolis

Metroeconomica, 2008, vol. 59, issue 2, pages 238-248

Abstract: This paper shows that in a world of 'production of commodities by means of commodities' there is not an unambiguous relation between the long-period relative commodity prices and the sectoral total factor productivities. Consequently, the Harrod-Balassa-Samuelson effect is not verified and/or makes no sense. Copyright © 2008 The Author.

Date: 2008

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