CAPITAL FOP.MATION IN PEASANT ECONOMIES

Brady J. Deaton

No 190976, 1977 Occasional Paper Series No. 1 from International Association of Agricultural Economists

Abstract: The role of capital formation in the process of economic development has been critically appraised by economists and policy-makers. 1 Identifying sources of capital and regulating the rate of capital growth are essential tasks of economic planning in developing nations. Economic growth models, particularly two-sector models, have been developed to describe the process of economic transformation with domestic savings and investment as the key driving forces in achieving a successful growth path. The analytical abstractness of two-sector models, however, does not provide a very accurate portrayal of peasant economic behavior, particularly savings and investment decisions. This weakness has prompted several writers to call for a more comprehensive approach in analyzing the structure of and advocating policy for developing nations. 2

Keywords: Political Economy; Production Economics; Public Economics (search for similar items in EconPapers)
Pages: 12
Date: 1977
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Persistent link: https://EconPapers.repec.org/RePEc:ags:iaaeo1:190976

DOI: 10.22004/ag.econ.190976

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