The Relevance Of Growth Models For Less Developed Economies

Widjojo Nitisastro

Economics and Finance in Indonesia, 1960, vol. 11, 499-513

Abstract: Economic growth, which was one of the main interests of the Classics and of Marx, ceased to receive full attention after introduction of the marginal analysis during the second half of the nineteenth century. Not until immediately before and after the second world war has there been a revival of what Baumol calls "magnificient" dynamics especially embodied in the writings of Harrod and Domar. Employing Keynesian tools which were primarily designed for short-run analysis these writers attempt to extend the Keynesian system into a more com prehensive longterm theory of output and employment.

Keywords: theory; output; input; growth; economy; model (search for similar items in EconPapers)
Date: 1960
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Persistent link: https://EconPapers.repec.org/RePEc:lpe:efijnl:196019

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