Pasinetti's structural economic dynamics

Terenzio Cozzi

Structural Change and Economic Dynamics, 2022, vol. 61, issue C, 444-449

Abstract: The paper elaborates on the complexity of Pasinetti's structural dynamics with particular reference to natural full employment growth. The movement of an actual economic system towards the path of natural growth may require institutional changes. A few examples are provided for the changes required to revive an economic system fallen in deep depression. It is argued that those changes may concern not only economic institutions but also political, sociological, and bureaucratic organisations. The analysis, which also involves historical considerations, gains in realism, and directs attention to the possible paths in the medium run.

Keywords: Multi-sector growth; Structural dynamics; Instability; Institutions; Interest rate spreads; Medium run (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:streco:v:61:y:2022:i:c:p:444-449

DOI: 10.1016/j.strueco.2021.12.006

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