Endogenous Structural Change
Mark Roberts
Zagreb International Review of Economics and Business, 2001, vol. 4, issue 2, 1-22
Abstract:
A model of cumulative causation is extended to incorporate endogenous structural change. This is achieved via the use of a non-linear feedback of the growth rate on to the income elasticity of demand for exports. The result is a model that, under certain conditions, exhibits chaotic switches between growth eras. Such dynamics are in keeping with the view of the growth process that emerges from the Marx-Myrdal-Kaldor tradition.
Keywords: Growth; Cumulative causation; Non-linear dynamics; Chaos theory (search for similar items in EconPapers)
JEL-codes: E12 F43 O41 (search for similar items in EconPapers)
Date: 2001
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