Cumulative causation in a structural economic dynamic approach to economic growth and uneven development

Ricardo Araujo

Structural Change and Economic Dynamics, 2013, vol. 24, issue C, 130-140

Abstract: A structural economic dynamic approach is distinguishable by its simultaneous considerations of supply and demand and their related effects wielded upon economic growth. However, properly considering cumulative causation requires a special framework for more fully accounting for technological progress, and not leaving it as simply exogenous. With this inquiry dimensions of Verdoorn's Law are selectively embedded in Pasinetti's multi-sector model, thus allowing us to better consider cumulative causation through rendering structural changes endogenous. In this setup, reconciliation between cumulative causation and balance of payments constrained views is shown to hold.

Keywords: Cumulative causation; Structural economic dynamic; Verdoorn's law; Balance-of-payment constrained growth (search for similar items in EconPapers)
JEL-codes: F12 O19 (search for similar items in EconPapers)
Date: 2013
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Citations: View citations in EconPapers (24)

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Working Paper: Cumulative Causation in a Structural Economic Dynamic Approach to Economic Growth and Uneven Development (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:streco:v:24:y:2013:i:c:p:130-140

DOI: 10.1016/j.strueco.2012.09.001

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