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

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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

SEMAINE D'ÉTUDE SUR LE ROLE DE L’ANALYSE ECONOMETRIQUE ETC. 673 given point of time take the form of one-to-one correspondence. No gap really exists in this case: the two ways of looking at the production activities meet half-way, through the above mentioned inverse matrix, which represents the analytical tool for re-classifying the same transactions according to two dif- ferent criteria and points of view (3). Of course, the input- output model gives us more information. If we were simply interested in what happens at a specific point of time, the input-output model would be the obvious one to use because it provides a more complete picture. But as time goes on, the input-output coefficients change and the inter-industry system breaks down. The connections described above begin to vanish. Then it is only the vertically integrated model that allows us to follow the vicissitudes of the system through time. It may perhaps be useful to point out explicitly how this happens. The process of technical change, as has been remarked earlier, manifests itself in a con- tinuous way at the level of the single units of production, espe- sially in the form of slow improvements, coming from patiently ‘rying different raw materials, re-thinking the disposition of the line of production, eliminating bottle-necks in the production process, trying new similar products, etc.. Even when new methods of production or new products are invented, their introduction into the economic system very rarely takes the form of a sudden change. Most of the time, the new products or the new methods are operated uneconomically for a period, antil experience and slow improvements put them on a com- petitive footing and prepare the ground for further improve- (3) Professor LeoNTIEF himself has, on a couple of occasions, adopted the vertically integrated type of classification. See especially Domestic Pro- luction and Foreign Trade: the American Capital Position Re-Examined, « Proceeding of the American Philosophical Society », vol. 97, No. 4, Sept. 1953, and Factor Proportions and the Structure of American Trade: Further Theoretical and Empirical Analysis, « Review of Economics and Statistics ». Nov. 1956. 10] Pasinetti - pag. 103

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