Ragnar Frisch wrote in 1933 that "The complete macrodynamic problem, as I conceive of it, consists in describing as realistically as possible the kind of relations that exist between the various magnitudes in the Tableau Economique ..., and from the nature of these relations to explain the...

A two country, three sector hybrid model of structural change with distortionary government policies is used to quantify the impact of international trade and trade reform for industrialization. The model features Arming- ton motivated trade in agriculture and industry, and a novel...

In this paper Pasinetti’s model of structural economic dynamics (1981) is extended to consider international economic relations. Conditions for full employment, full expenditure of income and equilibrium of the trade balance are established for an open economy that requires capital goods to...

Although the Structural Economic Dynamic approach provides a simultaneous consideration of demand and supply sides of economic growth, it does not take into fully account the possible role played by demand in the generation of technical progress. From a neo-Kaldorian perspective, this paper...

US economist Hyman Minsky jokingly used to claim that there are as many varieties of capitalism as Heinz has pickles, that is 57 varieties (Minsky 1991). In this paper we argue that economic integration provides a similar analytical problem: economic integration can take many forms, and some are...

This paper provides new evidence for the servitization of European manufacturing – the trend that manufacturing firms increasingly offer services along with their physical products. We employ input-output data as well as data from a company survey to give a comprehensive picture of...

The study examines influence of FIIs on the Indian equity market and its role in integration with US equity market. It provides insight for policy formulation in order to move towards greater liberalized FII’s policy regime for regaining FIIs confidence in the Indian equity market. The time...

Conventionally, the economic growth of a country is appraised in form of gross domestic product (GDP). In Bihar, the per capita net state domestic product (NSDP) is the lowest among the major states in Inida, and it is only one-third of the national level of per capita GDP. The services,...