Classical biased technical change approach and its relevance to reality
The purpose of this article is to evaluate empirically the classical viability condition for East Asia, Latin America, Sub-Saharan Africa 1980-1995, and advanced countries 1950-1992. The viability condition is proposed by Foley and Michl (1999), and is used for judging empirically which approach is more valid, the classical biased technical change approach or neoclassical production function approach. Our results acknowledge the predominance of the former, which is Foley-Michl's contention. However, there remains a disputable interpretation as to the case of a declining labour productivity, which is broadly seen in Latin America and Sub-Saharan Africa during the period considered.
Year of publication: |
2008
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Authors: | Sasaki, Hiroaki |
Published in: |
International Review of Applied Economics. - Taylor & Francis Journals, ISSN 0269-2171. - Vol. 22.2008, 1, p. 77-91
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Publisher: |
Taylor & Francis Journals |
Subject: | classical biased technical change | viability condition |
Saved in:
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