Beyond Balanced Growth

Piyabha Kongsamut, Sergio Rebelo () and Danyang Xie

No 6159, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: One of the most striking regularities of the growth process is the massive reallocation of labor from agriculture into industry and services. Balanced growth models are commonly used in macroeconomics because they are consistent with the well-known Kaldor facts about economic growth. These models are, however, inconsistent with the structural change dynamics that are a central feature of economic development. This paper discusses models with generalized balanced growth paths. These paths retain some of the key features of balanced growth but are consistent with the observed labor reallocations dynamics.

JEL-codes: O14 O41 (search for similar items in EconPapers)
Date: 1997-09
Note: EFG
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (46)

Published as Kongsamut, Piyabha, Sergio Rebelo and Danyang Xie. "Beyond Balanced Growth," Review of Economic Studies, 2001, v68(237,Oct), 869-882.

Downloads: (external link)
http://www.nber.org/papers/w6159.pdf (application/pdf)

Related works:
Journal Article: Beyond Balanced Growth (2001)
Working Paper: Beyond Balanced Growth (2001)
Working Paper: Beyond Balanced Growth (2001)
Working Paper: Beyond Balanced Growth (1997)
Working Paper: Beyong Balanced Growth (1997)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:6159

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w6159

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().