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dc.contributor.authorDray, Marken_US
dc.contributor.authorThirlwall, A. P.en_US
dc.date.accessioned2010-12-14en_US
dc.date.accessioned2011-10-21T16:53:24Z-
dc.date.available2011-10-21T16:53:24Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/50624-
dc.description.abstractThe paper questions the assumption in all of mainstream growth theory that the Harrod natural rate of growth is exogenously determined and independent of the pressure of demand in an economy. First a simple statistical technique is presented for estimating the natural rate of growth, and then it is shown how it is possible to test for its endogeneity. The model is applied to ten Asian countries, and the results support the conclusions from previous studies of OECD and Latin American countries that the natural rate of growth is elastic to the actual rate of growth working through induced labour supply and productivity growth. Demand matters for economic growth.en_US
dc.language.isoengen_US
dc.publisherUniv. of Kent, School of Economics Canterburyen_US
dc.relation.ispartofseriesSchool of Economics discussion papers 10,06en_US
dc.subject.jelO4en_US
dc.subject.jelO5en_US
dc.subject.ddc330en_US
dc.subject.keyworddemand-led growthen_US
dc.subject.keywordendogenous labour supply and productivity growthen_US
dc.subject.keywordAsiaen_US
dc.titleThe endogeneity of the natural rate of growth for a selection of Asian countriesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn641654286en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:School of Economics Discussion Papers, University of Kent

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