The starting point of this article is that China’s post-socialist transformation has involved a change in its growth regime. Indeed, during the Maoist era, it took the form of a “forced growth” as theorized by Kornai (1972). In addition, “export aversion” was one of the main...

This article explores the consequences of an endogenous dividend policy in the context of a Cambridge model of growth and distribution. In this logic, we take into account the interactions between the retention ratio and the level of debt and investigate the conditions for macroeconomic...

In this paper, a standard short-run Kaleckian macromodel is developed. The stability of equilibrium is studied and some comparative static exercises are made. The paper then takes into account different specifications for an endogenous propensity to invest and systematically analyze the...