Endogenous Structural Change

A model of cumulative causation is extended to incorporate endogenous structural change. This is achieved via the use of a non-linear feedback of the growth rate on to the income elasticity of demand for exports. The result is a model that, under certain conditions, exhibits chaotic switches between growth eras. Such dynamics are in keeping with the view of the growth process that emerges from the Marx-Myrdal-Kaldor tradition.

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Year of publication:	2001
Authors:	Roberts, Mark
Published in:	Zagreb International Review of Economics and Business. - Ekonomski Fakultet, ISSN 1331-5609. - Vol. 4.2001, 2, p. 1-22
Publisher:	Ekonomski Fakultet
Subject:	Growth \| Cumulative causation \| Non-linear dynamics \| Chaos theory

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Extent:	text/html
Type of publication:	Article
Classification:	E12 - Keynes; Keynesian; Post-Keynesian ; F43 - Economic Growth of Open Economies ; O41 - One, Two, and Multisector Growth Models
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005698457