Full text: Study week on the econometric approach to development planning

318 PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - 28 
considered in terms of trends, the rates of growth appear as 
approximately constant over large segments of time. 
At all events, it must be stressed that the great majority 
of the results are obtained independently of this hypothesis (}). 
The hypothesis of constancy of p enters into the culculation of 
0, R., ® and Rom (?) only. 
3 - JUSTIFICATION OF THE GENERAL MODEL WITH RESPECT TO 
ITS CONSEQUENCES 
There are at least two points on which the general model 
appears to be justified bv the conclusions to which it leads. 
a) Weak Relationship between Real Income per Capita and the 
Capital-Output Ratio at anv Given Moment 
318. We have seen that 
(318-1) Ro) _ | Ze gore 
R.,(t) Lr-Ye 
where Ron(f) is independent of the capitalistic structure (3). 
For kev1, © 4, and ¢ and p of the order of a few per- 
cent, this equation shows the relationship between real income 
(') § 220 to 220. 
(*) § 230 to 233. 
(®) Relation (228-14). 
by (233-2) and (233-3). 
Ron (f) is given bv (228-13) and if o is constant 
‘I1] Allais - pag. 122
	        
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