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
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: O19 F12 (search for similar items in EconPapers)
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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
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