Abstract

Structural is a relatively simple (continuous) process having restricted limit-properties. All processes which can be classified as change inherit these limit-properties. Limit-properties of processes play an important role in neoclassical growth theory. We show that (i) many neoclassical growth can be classified as theories of structural change and (ii) many theorems of neoclassical growth literature are a direct implication of this classification. In this way we provide uniform discussion of some central topics of neoclassical growth literature dealing with the dynamics of: functional income distribution, savings rate, consumption structure, cross-sector labour allocation and personal income distribution.

Full Text
Published version (Free)

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call