Professional Documents
Culture Documents
Classic Theories
of Economic
Growth and
Development
S sY (3.1)
I K (3.2)
K kY (3.3)
SI (3.4)
S sY kY K I (3.5)
sY kY (3.6)
Y s (3.7)
Y k
Autarky Dominance
Average product Dualism
Capital-labor ratio
False-paradigm model
Capital-output ratio
Free market
Center
Closed economy Free-market analysis
Comprador groups Harrod-Domar growth
Dependence model
Periphery Stages-of-growth
Production function model of development
Public choice theory Structural-change
theory
Savings ratio
Structural
Self-sustaining growth transformation
Solow neoclassical Sufficient condition
growth model
Surplus labor
1
Yi AKi L K i
1
Y AK L
n
g n
1
Copyright 2009 Pearson Addison-Wesley. All rights reserved. 3-25
Appendix- Solow Growth
Model
k sf (k ) ( n)k (A3.2.4)
sf (k *) ( n)k * (A3.2.5)
1
Y AK L
n
g n
1
Copyright 2009 Pearson Addison-Wesley. All rights reserved. 3-30