Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/174389
Authors: 
Razmi, Arslan
Year of Publication: 
2015
Series/Report no.: 
Working Paper 2015-16
Abstract: 
Growth in low-income developing economies with large sectors charac- terized by underemployment is unlikely to be wage-led in the traditional neo-Kaleckian sense of the term. Output and employment in the sectors of the economy producing non-tradable output could be demand-led, how- ever, and policies directly aimed at more equitable distribution in these sectors could boost long-run growth. Some of the fast growing Asian economies may have been examples of wage-led growth in this rather different sense of the term. Over time, re-distributive measures in the traditional sector, such as land reforms, could lead to faster wage and output growth across the economy.
Subjects: 
Demand regime
income distribution
wage-led growth
stagnationism
exhilarationism
neo-Kaleckian models
dependent economy models
JEL: 
F43
O41
O11
E12
Document Type: 
Working Paper

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