A Note on the Nonexistence of Optimal Price Vectors in the General Balanced-Growth Model of Gale

Econometrica ◽  
1972 ◽  
Vol 40 (2) ◽  
pp. 387 ◽  
Author(s):  
J. Hulsmann ◽  
V. Steinmetz
Keyword(s):  
Growth Model ◽  
Optimal Price ◽  
Balanced Growth

Economic Growth Rates and Exports of Bangladesh: The Bengal Tiger?

2019 ◽  
Vol 39 (3) ◽  
pp. 285-303 ◽  
Author(s):  
Mohammad Rafiqul Islam
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Foreign Aid ◽  
Growth Model ◽  
Growth Rates ◽  
Poor Country ◽  
Balanced Growth ◽  
The Status ◽  
Bengal Tiger ◽  
Economic Growth Rates

Global images of Bangladesh as a desperately poor country in need of foreign aid require revision in light of recent statistics that confirm impressive economic growth rates despite protracted political problems and climate-related risks. The article presents and discusses statistical evidence relating to recent economic growth rates of Bangladesh in terms of export, import and gross domestic product. This confirms the status of the country as a new tiger economy, moving away from its traditional dependence on agriculture. However, excessive reliance on exports of ready-made garments is found to be risky, while a more balanced growth model with a diverse basket of exports seems advisable.

R&D POLICY IN THE ECONOMY WITH STRUCTURAL CHANGE AND HETEROGENEOUS SPILLOVERS

2019 ◽  
pp. 1-20
Author(s):  
Anton Bondarev
Keyword(s):  
Structural Change ◽  
Endogenous Growth ◽  
Growth Model ◽  
Knowledge Spillovers ◽  
Knowledge Spillover ◽  
Balanced Growth ◽  
Market Economies ◽  
Endogenous Growth Model ◽  
Heterogeneous Knowledge

This paper develops an endogenous growth model with doubly differentiated R&D being the growth engine. The model incorporates dynamic structural change and heterogeneous knowledge spillovers. As a result, decentralized economy may exhibit non-monotonic growth paths and declining R&D productivity. Conditions on the knowledge spillover operator granting the existence of balanced growth for first-best and market economies are obtained. Different regulation tools helpful in achieving the sustainable path and their limits are studied.

The Empirics of the Equilibrium Balanced Growth Model

1975 ◽  
Vol 30 (4) ◽  
pp. 1149
Author(s):  
Duane B. Graddy
Keyword(s):  
Growth Model ◽  
Balanced Growth

Structural Transformation and Growth

2019 ◽  
pp. 44-69
Author(s):  
Richard Rogerson
Keyword(s):  
Structural Transformation ◽  
Growth Model ◽  
The Other ◽  
Relative Price ◽  
Aggregate Level ◽  
New Model ◽  
Balanced Growth ◽  
Income Effects ◽  
Price Effects ◽  
The Face

This chapter illustrates how structural transformation and outcomes resembling balanced growth at the aggregate level can be generated simultaneously using a growth model. It begins with a discussion of the three key economic mechanisms that drive structural transformation: the first emphasizes income effects while the other two both emphasize relative price effects. These mechanisms are then incorporated into a standard version of the growth model to test whether it is possible to obtain balanced growth and structural transformation at the same time. By extending the model to include multiple consumption sectors, a new model that generates balanced growth and structural transformation is achieved. The chapter also explains how three basic mechanisms described can drive sectoral reallocation of labour in the face of development associated with increases in productivity and capital.

Development of the Labour Surplus Economy (Review Article )

1965 ◽  
Vol 5 (2) ◽  
pp. 271-294
Author(s):  
Nurul Islam
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Growth Model ◽  
Recent Literature ◽  
Review Article ◽  
Development Review ◽  
Balanced Growth ◽  
Sector Model ◽  
Surplus Labour ◽  
Unlimited Supply

The concept of surplus labour has featured prominently in the recent literature on economic development of underdeveloped, overpopulated economies. W. A. Lewis in his two celebrated articles [1J attempted a precise formu¬lation of the concept of surplus labour and sought to analyse its implications for the strategy of economic development in the context of a two sector model of economic growth. Messrs. J. C. H. Fei and Gustav Ranis have undertaken in this book1 an elaborate extension of the two-sector growth model of W. A. Lewis. The major directions in which the authors have sought to extend or elaborate the model and the main results of their efforts in this respect are contained in their earlier article "Unlimited Supply of Labour and the Concept of Balanced Growth", published in the Pakistan Development Review, Winter 1961, Vol. 1, No. 3. The various sections of the article have now been expanded and elaborated into chapters of the book*.

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