Study week on the econometric approach to development planning

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Monograph

Identifikator:: 1824422792

URN:: urn:nbn:de:zbw-retromon-217476

Document type:: Monograph

Title:: Study week on the econometric approach to development planning

Place of publication:: Amsterdam [u.a.]

Publisher:: North-Holland Publ. Co. [u.a.]

Year of publication:: 1965

Scope:: XLVII, 1259 S.; graph. Darst.

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Identifikator:: 1824422792

URN:: urn:nbn:de:zbw-retromon-217476

Document type:: Monograph

Title:: Study week on the econometric approach to development planning

Place of publication:: Amsterdam [u.a.]

Publisher:: North-Holland Publ. Co. [u.a.]

Year of publication:: 1965

Scope:: XLVII, 1259 S.; graph. Darst.

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: A new theoretical approach to the problems of economic growth / Luigi L. Pasinetti, King's College - Cambridge - Great Britain

Collection:: Economics Books

Document type:: Monograph

Structure type:: Chapter

Title:: A new theoretical approach to the problems of economic growth / Luigi L. Pasinetti, King's College - Cambridge - Great Britain

Collection:: Economics Books

624 PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - 2¢ rate was constant and the system was growing at the same rate as population; in the case of uniform technical progress just examined, population remains constant and the wage rate is growing at the same rate as technical progress. The two cases may easily be combined, and the results of such a combination are so straightforward that it is of no use to spell them out in detail here. We may however explicitly state at least the conditions of equilibrium, which emerge as follows: (IV.5) An; nt) = (g + P)ain(t), 1=1, 2, ..., (n-1), and (IV.6) TS gaan) = 3 om an) alt) = = (246) 3 — am (0) auld). The economic meaning is evident. Each single sector of the system and the system as a whole expand at a rate which is the sum of the rate of population growth and of the rate of technical progress, a- sum which is widely known in economic literature by HARROD’s term of natural rate of growth. This natural rate appears explicitly both in (IV.5) and in (IV.6), the latter now giving a complete analytical break-down of HARROD’s equations. (The aggregate net saving ratio is required to be equal to the natural rate of growth multiplied by the over-all capital-output ratio) (3). At this point, however, after admiring the symmetry and the analytical beauty of the two cases of growth considered so far, we must also draw from the results we have obtained at least two logical and stringent conclusions. (3) See the proof in footnote (1) of Chapter IIT. [101 Pasinetti - pag. 54

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