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. 675 inputs, and these are expressed in the same terms independently of the industry in which they are used. Similarly, a sudden shift taking place at the level of a particular technical process in the origin of one of the inputs (for example a shift in the pro- venance of a fibre from the textile industry to the chemical industry) means that less labour than before is required to produce it through the new channel. A shift of this type changes an inter-industry relation by causing the disappearance of a coefficient (and of the correspondent variable) and the appear- ance of another, different, one. In the vertically integrated relation, it only causes a small diminution of the same coeffi- cient. If we imagine many of these shifts taking place while ime goes on and, along with them, corresponding changes 'n the consumption coefficients — which is, after all, the nor- mal path that technical progress takes — the input-output :able is continuously upset and all functions change from one moment to the next. On the other hand, the vertically inte- grated relations remain unaffected. The only consequence for ‘hem is that their coefficients gradually diminish through time in a movement which, for analytical purposes, has been ap- oroximated in the present model by a smooth trend develop- ing at a certain rate of change. Concluding and summarising, we may say that, at any ziven point of time, there exists between the static input- output model and the model presented in the previous pages a very definite relation through a fully specifiable matrix of coefficients. Considered at a given point of time, the input- output model is more analytical — it has much more to say about the structure of an economic system. However, as time goes on, and the conditions of production and of consumption change (owing to technical progress, economies and disecono- mies of scale, etc.) the inter-industry relations break down and become different from one moment to the next, so that a particular input-output table is needed for each stage in the evolution of the economy under consideration. These 10] Pasinetti - pag. 105

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