 Growth and distribution in low-income economies: modifying post-Keynesian analysis in light of theory and historyArslan Razmi
Review of Keynesian Economics, 2016, vol. 4, issue 4, 429-449 Abstract: Growth in low-income developing economies with large sectors characterized by underemployment is unlikely to be wage-led in the traditional neo-Kaleckian sense of the term. Output and employment in the sectors of the economy producing non-tradable output could be demand-led, however, and policies directly aimed at more equitable distribution in these sectors could boost long-run growth. Some of the fast-growing Asian economies may have been examples of relatively equitable growth which is not wage-led in the traditional neo-Kaleckian sense of the term. Over time, redistributive measures in the traditional sector, such as land reforms, could lead to faster wage and output growth across the economy. Keywords: demand regime; income distribution; wage-led growth; stagnationism; exhilarationism; neo-Kaleckian models; dependent economy models (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:elg:rokejn:v:4:y:2016:i:4:p429-449 Access Statistics for this article Review of Keynesian Economics is currently edited by Thomas Palley, MatÃas Vernengo and Esteban Pérez Caldentey More articles in Review of Keynesian Economics from Edward Elgar Publishing |
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