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Inflation And Economic Growth: A Dynamic Analysis Of Deficit Finance, Byung-Joon Whang

Graduate Dissertations and Theses

This paper attempts to answer two questions. First, is a policy of inflationary capital formation (ICF) capable of permanently raising the growth path of real output? When all the dynamic propagations of the initial impact of ICF spendings are accounted for and it is shown that the resulting public capital formation is simply a substitute for otherwise available private capital formation, then the policy of ICF would have failed the first test. Second, if ICF spendings do accelerate output growth, what rate of ICF would be most conducive to a rapid relieving of factor imbalance and the sustained promotion of …

On The Transformation Problem, Mihalis Hatziprokopiou

Graduate Dissertations and Theses

In the first two volumes of Capital it is assumed that commodities are exchanged according to their values; with different organic compositions of capital for each sector of the economy this assumption leads to different rates of profit, a result which is not consistent neither with the reality of a capitalist system nor with the Marxian assumptions. Marx points out the problem in the third volume of Capital where he introduces the concept of prices of production (cost plus average profit on capital employed) as deviations from the actual values of the commodities. He maintains that when the economy enters …

Potential Output And Sources Of Economic Growth In The Indian Economy, 1950-51 To 1964-65, N. R. Murthy

Graduate Dissertations and Theses

The study of potential output and the sources of economic growth has become in the last fifteen years an important part of economic literature. Most of the studies on potential output and the sources of economic growth have been carried out mainly for the United States, some Western European countries and Canada. There is a small number of such studies on the less developed economies. In fact, there are no studies on potential output and sources of economic growth in the Indian economy. The present study is an attempt to fill in this gap.

This chapter attempts to present an …

Capital And Output In The Mexican Economy, 1939-67, Mary Ann Throup

Graduate Dissertations and Theses

This study examines capital/output ratios for Mexico within the framework of Bićanić’s theory of development. Mexico’s declining capital coefficient over the 1939-67 period conforms to Bićanić’s third stage where external and internal economies are experienced. Sectoral investigations indicate declining coefficients in the infrastructure sector are largely responsible for this situation while an aggregate analysis presents significant evidence of internal and external economies resulting from the elimination of “bottlenecks” on the supply side.