HETEROGENEOUS CAPITAL GOODS AND THE HARROD-BALASSA-SAMUELSON EFFECT

This paper shows that in a world of 'production of commodities by means of commodities' there is not an unambiguous relation between the long-period relative commodity prices and the sectoral total factor productivities. Consequently, the Harrod-Balassa-Samuelson effect is not verified and/or makes no sense. Copyright © 2008 The Author.

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Year of publication:	2008
Authors:	Mariolis, Theodore
Published in:	Metroeconomica. - Wiley Blackwell, ISSN 0026-1386. - Vol. 59.2008, 2, p. 238-248
Publisher:	Wiley Blackwell

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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