Application of David Butt's Theory of Growth to the Problem of Investment Allocation

R. M. Sundrum

The Economic Record, 1978, vol. 54, issue 1, 78-93

Abstract: David Butt's multi‐sectoral long‐term theory of growth is summarized in mathematical terms and applied to the problem of allocating investment to many sectors, especially by modifying Nurkse's Balanced Growth doctrine to take account of changes in relative prices that occur during the growth process. The case of mechanization of the food sector is discussed in some detail.

Date: 1978
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