In Search of Harrod’s Contribution to Economic Dynamics: A Note

Maurizio Pugno

Chapter 3 in Economic Dynamics, Trade and Growth, 1998, pp 89-106 from Palgrave Macmillan

Abstract: Abstract Every scholar of economic growth would acknowledge that Harrod’s contribution to economic dynamics is fundamental. However, when one observes the literature on the topic, the ambiguity with which his work has been received is evident. In fact, once original pieces of analysis are identified in his abundant and informal writings, they have been immediately criticized, denied any empirical relevance, and reduced to a very specific theoretical content. This Note will argue that Harrod’s critics have been not sufficiently perceptive of his originality, since his approach has been felt to be ‘discomforting’1. Yet, if Harrod’s analysis is read more accurately, an interesting concept of economic dynamics emerges.

Keywords: Trade Cycle; Economic Dynamics; Fixed Investment; Investment Function; Natural Growth Rate (search for similar items in EconPapers)
Date: 1998
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-26931-0_4

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DOI: 10.1007/978-1-349-26931-0_4

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