Economic growth from a Kaldorian perspective: theory, evidence and agenda
Carregando...
Data
Autor(es)
Título da Revista
ISSN da Revista
Título de Volume
Editor
Universidade Federal de Minas Gerais
Descrição
Tipo
Artigo de periódico
Título alternativo
Primeiro orientador
Membros da banca
Resumo
This paper presents a literature review of the Kaldorian literature, which identifies three important gaps, or areas for future research. Firstly, the determinants of the magnitude of the key parameters of Kaldor‐Verdoorn’s Law (the Verdoorn coefficient) and of Thirlwall’s Law (the income elasticities) have not been fully understood. Secondly, the fact that cumulative causation works through price competitiveness in the Kaldor‐Dixon‐Thirlwall model represents an important limitation of the model, which has not yet been solved. Thirdly, sectoral differences have not been fully explored in Kaldorian theory. The review indicates that, in the first two research areas, exploring the effects of additional variables could help clarify what determines the magnitudes of the parameters, as have been sought by the works that combine Kaldorian and Schumpeterian insights, indicating also new channels through which cumulative causation could work. Finally, the last issue requires more attention to similarities and differences between manufacturing sectors, as well as exploring more carefully how sectoral dynamics work.
Abstract
Assunto
Desenvolvimento econômico, Macroeconomia
Palavras-chave
Kaldorian growth models, Economic growth, Thirlwall's law, Verdoorn's law
Citação
Departamento
Curso
Endereço externo
https://www.braziliankeynesianreview.org/BKR/article/view/55/65