Advertisement

The Theory of Economic Growth: A Survey

  • F. H. Hahn
  • R. C. O. Matthews

Abstract

Our purpose is to survey the contributions that have been made to the theory of economic growth in the last twenty-five years and endeavour to place them in relation to one another. It will be clear that the survey cannot hope to cover all of growth economics. We have accordingly restricted ourselves in the following ways: (1) We take up the story with Harrod’s famous article of 1939 and make no attempt to cover writings before this date. The seriousness of this omission is evident when one recalls that this decision not only excludes the classical economists but also Wicksell, Marshall, Robertson and Cassel. (2) We restrict ourselves (except for occasional references) to the theoretical literature. Our central concern is with models of economic growth. The authors of these models have naturally had in mind as a rule that their work should contribute to an understanding of the way economies actually grow over time; but this approach to growth theory is none the less different from that which would be used if the immediate purpose was to provide the best available explanation of the variety of historical growth experiences.2 (3) While it has been found appropriate to give some summary of results in the theory of efficient accumulation, the problems of optimum saving and the development of backward countries have not been considered. (4) No discussion is presented of growth theory as applied to international trade.

Keywords

Capital Stock Real Wage Technical Progress Steady Growth Profit Rate 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

Bibliography

  1. Abramovitz, M. (1952) “ Economics of Growth,” in A Survey of Contemporary Economics, Vol. II, edited by B. F. Haley (Homewood, Illinois: Irwin, for American Economic Association, 1952).Google Scholar
  2. Abramovitz, M. (1956) “Resource and Output Trends in the United States since 1870,” AER Papers and Proceedings, Vol. XLVI, May 1956.Google Scholar
  3. Abramovitz, M. (1962) “ Economic Growth in the United States.” AER, Vol. LII, September 1962.Google Scholar
  4. Adelman, I. (1962) Theories of Economic Growth and Development (Stanford, 1962 ).Google Scholar
  5. Alexander, S. S. (1949) “ The Accelerator as a Generator of Steady Growth,” QJE, Vol. LXIII, May 1949.Google Scholar
  6. Alexander, S. S. (1950) “ Mr Harrod’s Dynamic Model,” EJ, Vol. LX, December 1950.Google Scholar
  7. Allais, M. (1962). “ The Influence of the Capital—Output Ratio on Real National Income,” Em, Vol. XXX, October 1962.Google Scholar
  8. Allen, R. G. D. (1960) “ The Structure of Macroeconomic Models,” EJ, Vol. LXX, March 1960.Google Scholar
  9. Ames, E., and Rosenberg, N. (1963) “ Changing Technological Leadership and Industrial Growth,” EJ, Vol. LXXIII, March 1963.Google Scholar
  10. Anderson, P. A. (1961) “ The Apparent Decline in Capital—Output Ratios,” QJE, Vol. LXXV, November 1961.Google Scholar
  11. Ando, A., and Simon, H. A. (1961) “ Aggregation of Variables in Dynamic Systems,” Em, Vol. 29, April 1961.Google Scholar
  12. Ando, A., and Fisher, F. M. (1963) “ Near-decomposability, Partition and Aggregation, and the Relevance of Stability Discussions,” IER, Vol. IV, January 1963.Google Scholar
  13. Ando, A., Fisher, F. M., and Simon, H. A. (1963) Essays on The Structure of Social Science Models ( Cambridge, Mass.: M.I.T. Press, 1963 ).Google Scholar
  14. Arrow, K. J. (1951) “ Alternative Proof of the Substitution Theorem for Leontief Models in the General Case,” in Activity Analysis of Production and Allocation, ed. T. C. Koopmans ( New York: Wiley, 1951 ).Google Scholar
  15. Arrow, K. J. (1962) “ The Economic Implications of Learning by Doing,” REStud, Vol. XXIX, June 1962.Google Scholar
  16. Arrow, K. J., Chenery, H. B., Minhas, B., and Solow, R. M. (1961) “ Capital—Labour Substitution and Economic Efficiency,” REStat, Vol. XLIII, August 1961.Google Scholar
  17. Asimakopulos, A. (1963) “ The Definition of Neutral Inventions,” EJ, Vol. LXXIII, December 1963.Google Scholar
  18. Asimakopulos, A., and Weldon, J. C. (1963) “ The Classification of Technical Progress in Models of Economic Growth,” Ec, Vol. XXX, November 1963.Google Scholar
  19. Beckerman, W. (1962) “Projecting Europe’s Growth,” EJ, Vol LXXII, Decem- ber 1962.Google Scholar
  20. Bhagwati, J. N. (1964) “ The Pure Theory of International Trade,” EJ, Vol. LXXIV, March 1964, reprinted in this volume, pp. 156–239.Google Scholar
  21. Black, J. (1962a) “ The Technical Progress Function and the Production Function,” Ec, Vol. XXIX, May 1962.Google Scholar
  22. Black, J. (1962b) “ Technical Progress and Optimum Savings,” REStud, Vol. XXIX, June 1962.Google Scholar
  23. Blaug, M. (1963) “ A Survey of the Theory of Process Innovations,” Ec, Vol. XXX, February 1963.Google Scholar
  24. Boulding, K. (1950) A Reconstruction of Economics ( New York: Wiley, 1950 ).Google Scholar
  25. Brown, J. A. C., and Stone, J. R. N. (1962) “ Output and Investment for Exponential Growth in Consumption,” REStud, Vol XXIX, June 1962.Google Scholar
  26. Butt, D. M. Bensusan (1960) On Economic Growth: An Essay in Pure Theory ( London: Oxford University Press, 1960 ).Google Scholar
  27. Buttrick, J. (1958) “ A Note on Professor Solow’s Growth Model,” QJE, Vol. LXXII, November 1958.Google Scholar
  28. Caff, J. T. (1961) “ A Generalisation of the Multiplier—Accelerator Model,” EJ, Vol. LXXI, March 1961.Google Scholar
  29. Cairncross, A. K. (1953) “ The Place of Capital in Economic Progress,” in Economic Progress, Proceedings of International Economic Association Conference, edited by L. H. Dupriez ( Louvain: Institut de Recherches Economiques et Sociales, 1955 ).Google Scholar
  30. Carter, C. F., and Williams, B. R. (1957) Industry and Technical Progress ( London: Oxford University Press, 1957 ).Google Scholar
  31. Carter, C. F., and Williams, B. R. (1958) Investment in Innovation ( London: Oxford University Press, 1958 ).Google Scholar
  32. Carter, C. F., and Williams, B. R. (1959) Science in Industry ( London: Oxford University Press, 1959 ).Google Scholar
  33. Champernowne, D. G. (1958) “ Capital Accumulation and the Maintenance of Full Employment,” EJ, Vol. LXVIII, June 1958.Google Scholar
  34. Champernowne, D. G. (1961) “ A Dynamic Growth Model involving a Production Function,” in The Theory of Capital, Proceedings of International Association Conference, edited by F. A. Lutz and D. C. Hague ( London: Macmillan, 1961 ).Google Scholar
  35. Champernowne, D. G. (1962) “ Some Implications of Golden Age Conditions When Savings Equal Profits,” REStud, Vol. XXIX, June 1962.Google Scholar
  36. Champernowne, D. G., and Kahn, R. F. (1954) “ The Value of Invested Capital. A Mathematical Addendum to Mrs. Robinson’ s Article,” REStud, Vol. XXI, 1954.Google Scholar
  37. Denison, E. F. (1962) The Sources of Economic Growth in the United States and the Alternatives before Us (New York: Committee for Economic Development, 1962.)Google Scholar
  38. Desrousseaux, J. (1961). “ Expansion stable et taux d’intérêt optimal,” Annales des Mines, November 1961.Google Scholar
  39. Domar, E. D. (1946) “ Capital Expansion, Rate of Growth and Employment,” Em, Vol. 14, April 1946.Google Scholar
  40. Domar, E. D. (1947) “ Expansion and Employment,” AER, Vol. XXXVII, March 1947.Google Scholar
  41. Domar, E. D. (1957) Essays in the Theory of Growth ( London: Oxford University Press, 1957 ).Google Scholar
  42. Dorfman, R., Samuelson, P. A., and Solow, R. M. (1958). Linear Programming and Economic Analysis ( New York: McGraw-Hill, 1958 ).Google Scholar
  43. Drandanakis, E. M. (1963) “ Factor Substitution in the Two-sector Growth Model,” REStud, Vol. XXX, October 1963.Google Scholar
  44. Duesenberry, J. S. (1949) Income, Saving and the Theory of Consumer Behaviour ( Cambridge, Mass.: Harvard University Press, 1949 ).Google Scholar
  45. Duesenberry, J. S. (1958) Business Cycles and Economic Growth ( New York: McGraw-Hill, 1958 ).Google Scholar
  46. Eckstein, O. (1959) (Chief author) Staff Report on Employment, Growth, and Price Levels, prepared for consideration by the Joint Economic Committee, Congress of the United States, December 24, 1959.Google Scholar
  47. Eisner, R. (1958) “ On Growth Models and the Neo-Classical Resurgence,” EJ, Vol. LXVIII, December 1958.Google Scholar
  48. Fellner, W. J. (1956) Trends and Cycles in Economic Activity ( New York: Holt and Co., 1956 ).Google Scholar
  49. Fellner, W. J. (1958) “ Automatic Market Clearance and Innovations in the Theory of Employment and Growth,” OEP, Vol. 10, June 1958.Google Scholar
  50. Fellner, W. J. (1961) “ Appraisal of the Labour-saving and Capital-saving Character of Innovations,” in The Theory of Capital, Proceedings of International Economic Association Conference, edited by F. A. Lutz and D. C. Hague ( London: Macmillan, 1961 ).Google Scholar
  51. Fellner, W. J. (1962) “ Does the Market Direct the Relative Factor-saving Effects of Technological Progress,” in Universities—National Bureau Committee for Economic Research, The Rate and Directions of Inventive Activity ( Princeton: Princeton University Press, 1962 ).Google Scholar
  52. Findlay, R: (1960) “ Economic Growth and the Distributive Shares,” REStud, Vol. XXVII, June 1960.Google Scholar
  53. Findlay, R. (1963a) “ The Robinsonian Model of Accumulation,” Ec, Vol. XXX, February 1963.Google Scholar
  54. Findlay, R. (1963b) “ A Reply (to Robinson, J., ‘ Findlay’s Robinsonian Model of Accumulation: A Comment ’),” Ec, Vol. XXX, November 1963.Google Scholar
  55. Fisher, F. M. (1963) “ Decomposability, Near Decomposability and Balanced Price Change under Constant Returns to Scale,” Em, Vol. 31, January—April 1963.Google Scholar
  56. Fisher, F. M., and Ando, A. (1963) “ Near-decomposability, Partition and Aggregation, and the Relevance of Stability Discussions,” IER, Vol. IV, January 1963.Google Scholar
  57. Fisher, F. M., Ando, A., and Simon, H. A. (1963) Essays on the Structure of Social Science Models ( Cambridge, Mass.: M.I.T. Press, 1963 ).Google Scholar
  58. Frankel, M. (1955) “ Obsolescence and Technological Change in a Maturing Economy,” AER, Vol. XLV, June 1955.Google Scholar
  59. Furuya, H., and Inada, K. (1962) “ Balanced Growth and Intertemporal Efficiency in Capital Accumulation,” IER, Vol. 3, January 1962.Google Scholar
  60. Gale, D. (1956) “ The Closed Linear Model of Production,” in Linear Inequalities and Related Systems, ed. H. W. Kuhn and A. W. Tucker ( Princeton: Princeton University Press, 1956 ).Google Scholar
  61. Gale, D. (1960) The Theory of Linear Economic Models ( New York: McGraw-Hill, 1960 ).Google Scholar
  62. Goodwin, R. M. (1953) “ The Problem of Trend and Cycle,” YB, Vol. 5, August 1953.Google Scholar
  63. Goodwin, R. M. (1955) “A Model of Cyclical Growth,” in The Business Cycle in the Postwar World, proceedings of International Economic Association Conference, editLd by E. Lundberg ( London: Macmillan, 1955 ).Google Scholar
  64. Gordon, D. F. (1956) “ Obsolescence and Technological Change: Comment,” AER, Vol. XLVI, September 1956.Google Scholar
  65. Gordon, R. A. (1961) “ Price Changes: Consumers’ and Capital Goods,” AER, Vol. LI, December 1961.Google Scholar
  66. Green, H. A. J. (1960) “Growth Models, Capital and Stability,” EJ, Vol. LXX, March 1960.Google Scholar
  67. Griliches, Z. (1963) “ The Sources of Measured Productivity Growth: U.S. Agriculture 1940–60,” JPE, Vol. LXXI, August 1963.Google Scholar
  68. Guha, A. (1963) “ Scarcity of Specific Resources as A Limit to Output,” REStud, Vol. XXX, 1963 ).Google Scholar
  69. Haavelmo, T. (1954) A Study in the Theory of Economic Evolution ( Amsterdam: North-Holland Publishing Co., 1954 ).Google Scholar
  70. Habakkuk, H. J. (1962) American and British Technology in the Nineteenth Century ( London: Cambridge University Press, 1962 ).Google Scholar
  71. Hahn, F. H. (1950) “ The Share of Wages in the Trade Cycle,” EJ, Vol. LX, September 1950.Google Scholar
  72. Hahn, F. H. (1951) “ The Share of Wages in The National Income,” - OEP, Vol. 3, June 1951.Google Scholar
  73. Hahn, F. H. (1960) “ The Stability of Growth Equilibrium,” QJE, Vol. LXXIV, May 1960.Google Scholar
  74. Hahn, F. H. (1961) “ Money, Dynamic Stability and Growth,” Met, Vol. XIII, 1961.Google Scholar
  75. Hahn, F. H. (1963) “ On the Disequilibrium Behaviour of a Multi-sectoral Growth Model,” EJ, Vol. LXXIII, September 1963.Google Scholar
  76. Harrod, R. F. (1936) The Trade Cycle ( London: Oxford University Press, 1936 ).Google Scholar
  77. Harrod, R. F. (1939) “ An Essay in Dynamic Theory,” EJ Vol. XLIX, March 1939.Google Scholar
  78. Harrod, R. F. (1948) Towards a Dynamic Economics ( London: Macmillan, 1948 ).Google Scholar
  79. Harrod, R. F. (1957) “ Professor Feltner on Growth and Unemployment,” Kyk, Vol. 10, 1957.Google Scholar
  80. Harrod, R. F. (1959) “ Domar and Dynamic Economics,” EJ, Vol. LXIX, September 1959.Google Scholar
  81. Harrod, R. F. (1960) “ Second Essay in Dynamic Theory,” EJ, Vol. LXX, June 1960.Google Scholar
  82. Harrod, R. F. (1963) “ Themes in Dynamic Theory,” EJ, Vol. LXXIII, September 1963.Google Scholar
  83. Hart, A. G., Kaldor, N., and Tinbergen, J. (1964) “The Case for a Commodity Reserve Currency,” memorandum submitted to the U.N. Conference on Trade and Development, 1964 (U.N. document E/Conf. 46/P/7).Google Scholar
  84. Hawkins, D., and Simon, H. A. (1949) “Some Conditions of Macroeconomic Stability,” Em, Vol. 17, October 1949.Google Scholar
  85. Hicks, J. R. (1932, 1963) The Theory of Wages (London: Macmillan, 1st edition 1932, 2nd edition 1963 ).CrossRefGoogle Scholar
  86. Hicks, J. R. (1950) A Contribution to the Theory of the Trade Cycle ( Oxford: Oxford University Press, 1950 ).Google Scholar
  87. Hicks, J. R. (1959) “ A Value and Capital Growth Model,” REStud, Vol. XXVI, June 1959.Google Scholar
  88. Hicks, J. R. (1960) “Thoughts on the Theory of Capital—The Corfu Conference,” OEP, Vol. 12, June 1960.Google Scholar
  89. Hicks, J. R. (1961) “ Prices and the Turnpike—the Story of a Mare’s Nest,” REStud, Vol. XXVIII, February 1961.Google Scholar
  90. Howe, C. W. (1960) “ An Alternative Proof of the Existence of General Equilibrium in a Von Neumann Model,” Em, Vol. 28, 1960.Google Scholar
  91. Inada, K. (1961) “ Balanced Growth and Intertemporal Efficiency in Capital Accumulation,” 1961 (unpublished).Google Scholar
  92. Inada, K. (1963) “ On a Two-sector Model of Economic Growth: Comments and a Generalisation,” REStud, Vol. XXX, June 1963.Google Scholar
  93. Inada, K., and Furuya, H. (1962) “ Balanced Growth and Intertemporal Efficiency in Capital Accumulation,” IER, Vol. 3, January 1962.Google Scholar
  94. Johansen, L. (1959) “ Substitution versus Fixed Production Coefficients in The Theory of Economic Growth: A Synthesis,” Em, Vol. 27, April 1959.Google Scholar
  95. Johansen, L. (1961) “ A Method of Separating the Effects of Capital Accumulation and Shifts in Production Functions upon Growth in Labour Productivity,” EJ, Vol. LXXI, December 1961.Google Scholar
  96. Jorgenson, D. W. (1960a) “ On Stability in the Sense of Harrod,” Ec, Vol. XXVII, August 1960.Google Scholar
  97. Jorgenson, D. W. (1960b) “ A Dual Stability Theorem,” Em, Vol. XXVIII, October 1960.Google Scholar
  98. Jorgenson, D. W. (1961a) “ Stability of a Dynamic Input–Output System,” REStud, Vol. XXVIII, February 1961.Google Scholar
  99. Jorgenson, D. W. (196lb). “The Development of a Dual Economy,” EJ, Vol. LXXI, June 1961.Google Scholar
  100. Jorgenson, D. W. (1961c) “ The Structure of Multi-sector Dynamic Models,” IER, Vol. 2, September 1961.Google Scholar
  101. Kahn, R. F. (1959) “ Exercises in the Analysis of Growth,” OEP, Vol. II, June 1959.Google Scholar
  102. Kahn, R. F., and Champernowne, D. G. (1954) “ The Value of Invested Capital. A Mathematical Addendum to Mrs. Robinson’s Article,” REStud, Vol. XXI, 1954.Google Scholar
  103. Kaldor, N. (1954) “ The Relation of Economic Growth and Cyclical Fluctuations,” EJ, Vol. LXIV, March 1954.Google Scholar
  104. Kaldor, N. (1956) “ Alternative Theories of Distribution,” REStud, Vol. XXI II, 1956.Google Scholar
  105. Kaldor, N. (1957) “ A Model of Economic Growth,” EJ, Vol. LXVII, December 1957.Google Scholar
  106. Kaldor, N. (1959) “ Economic Growth and the Problem of Inflation,” Ec, Vol. XXVI, August, November 1959.Google Scholar
  107. Kaldor, N. (1960) “A Rejoinder to Mr. Atsumi and Professor Tobin,” REStud, Vol. XXVII, February 1960.Google Scholar
  108. Kaldor, N. (1961) “ Capital Accumulation and Economic Growth,” in The Theory of Capital, Proceedings of International Economic Association Conference, edited by F. A. Lutz and D. C. Hague ( London: Macmillan, 1961 ).Google Scholar
  109. Kaldor, N. (1962) Comment (in Symposium on Production Function and Economic Growth), REStud, Vol. XXIX, June 1962.Google Scholar
  110. Kaldor, N., and Mirrlees, J. A. (1962) “ A New Model of Economic Growth,” REStud, Vol. XXIX, June 1962.Google Scholar
  111. Kalecki, M. (1939) Essays in the Theory of Economic Fluctuations ( London: Allen and Unwin, 1939 ).Google Scholar
  112. Kalecki, M. (1943) Studies in Economic Dynamics (London : Allen and Unwin, 1943 ).Google Scholar
  113. Kalecki, M. (1954) Theory of Economic Dynamics ( London: Allen and Unwin, 1954 ).Google Scholar
  114. Kaneko, Y., and Morishima, M. (1962) “ On the Speed of Establishing Multi-Sectoral Equilibrium,” Em, Vol. 30, October 1962.Google Scholar
  115. Karlin, S. (1959) Mathematical Methods and Theory in Games, Programming and Economics, Vol. I (London: Pergamon Press, 1959 ).Google Scholar
  116. Kemeny, J. G., Morgenstern, O., and Thompson, G. L. (1956) “ A Generalisation of the Von Neumann Model of an Expanding Economy,” Em, Vol. 24, April 1956.Google Scholar
  117. Kendrick, J. W. (1961) Productivity Trends in the United States, National Bureau of Economic Research (Princeton: Princeton University Press, 1961 ).Google Scholar
  118. Kennedy, C. (1961) “ Technical Progress and Investment,” EJ, Vol. LXXI, June 1961.Google Scholar
  119. Kennedy, C. (1962) “ The Character of Improvements and of Technical Progress,” EJ, Vol. LXXII, December 1962.Google Scholar
  120. Kennedy, C. (1964) “ Induced Bias in Innovation and the Theory of Distribution,” EJ, Vol. LXXIV, September, 1964.Google Scholar
  121. Kindleberger, C. P. (1961) “ Obsolescence and Technical Change,” O.I.S., Vol. 23, August 1961.Google Scholar
  122. Koopmans, T. C. (1951) “ Analysis of Production on an Efficient Combination of Activities,” in Activity Analysis of Production and Allocation, ed. Koopmans, ( New York: Wiley, 1951 ).Google Scholar
  123. Koopmans, T. C. (1957) Three Essays on the State of Economic Science (1957).Google Scholar
  124. Koopmans, T. C., and Beush, A. F. (1959) “ Selected Topics in Economics in- volving Mathematical Reasoning,” SIAM Review, Vol. 1, No. 2, July 1959.Google Scholar
  125. Kurz, M. (1963a) “ A Two-sector Extension of Swan’s Model of Economic Growth: The Case of No Technical Change,” IER, Vol. IV, January 1963.Google Scholar
  126. Kurz, M. (1963b) “ Substitution versus Fixed Production Coefficients: A Com- ment,” Em, Vol. 31, January—April 1963.Google Scholar
  127. Kuznets, S. (1959) Six Lectures on Economic Growth ( New York: Glencoe, 1959 ).Google Scholar
  128. Lamfalussy, A. (1963) The United Kingdom and the Six ( London: Macmillan, 1963 ).CrossRefGoogle Scholar
  129. Leibenstein, H. (1957) Economic Backwardness and Economic Growth (New York, 1957 ).Google Scholar
  130. Leontief, W. W. (1941, 1951) The Structure of American Economy 1919–1939 (New York: Oxford University Press, 1941, 2nd edition, 1951 ).Google Scholar
  131. Leontief, W. W. (1961) “ Lags and the Stability of Dynamic Systems: a Rejoinder,” Em, Vol. 29, October 1961.Google Scholar
  132. Little, I. M. D. (1957) “ Classical Growth,” OEP, Vol. 9, June 1957.Google Scholar
  133. Lundberg, E. (1961) Produktivitet och räntabilitet ( Stockholm: Norstedt, 1961 ).Google Scholar
  134. McFadden, D. M. (1963) “ Further Results on C.E.S. Production Functions,” REStud, Vol. XXX, June 1963.Google Scholar
  135. McKenzie, L. W. (1957) “ An elementary analysis of the Leontief system,” Em, Vol. 25, 1957.Google Scholar
  136. McKenzie, L. W. (1963a) “ The Dorfman—Samuelson—Solow Turnpike Theorem,” IER, Vol. IV, January 1963.Google Scholar
  137. McKenzie, L. W. (1963b) “ Turnpike Theorems for a Generalized Leontief Model,” Em, Vol. 31, January—April 1963.Google Scholar
  138. McManus, M. (1957) “ Self-contradiction in Leontief’s Dynamic Model,” YB, Vol. 9, May 1957.Google Scholar
  139. McManus, M. (1963) “ Notes on Jorgenson’s Model,” REStud, Vol. XXX, June 1963.Google Scholar
  140. Malinvaud, E. (1953) “ Capital Accumulation and Efficient Allocation of Resources,” Em, Vol. 21, April 1953.Google Scholar
  141. Malinvaud, E. (1959) “ Programmes d’expansion et taux d’intérêt,” Em, Vol. 27, April 1959.Google Scholar
  142. Malinvaud, E. (1961) “ The Analogy between Atemporal and Intertemporal Theories of Resource Allocation,” REStud, Vol. XXVIII, June 1961.Google Scholar
  143. Malinvaud, E. (1962) “ Efficient Capital Accumulation, a Corrigendum,” Em, Vol. 30, July 1962.Google Scholar
  144. Mansfield, E. (1961) “ Technical Change and the Rate of Imitation,” Em, Vol. 29, October 1961.Google Scholar
  145. Matthews, R. C. O. (1955) “ The Saving Function and The Problem of Trend and Cycle,” REStud, Vol. XXII, 1955.Google Scholar
  146. Matthews, R. C. O. (1959) “ Duesenberry on Growth and Fluctuations,” EJ, Vol. LXIX, December 1959.Google Scholar
  147. Matthews, R. C. O. (1960) “ The Rate of Interest in Growth Models,” OEP, Vol. 12, October 1960.Google Scholar
  148. Matthews, R. C. O. (1964) “ The New View of Investment: A Comment,” QJE, Vol. LXXVIII, February 1964.Google Scholar
  149. Meade, J. E. (1961) A Neo-Classical Theory of Economic Growth ( London: Allen and Unwin, 1961 ).Google Scholar
  150. Meade, J. E. (1962) “ The Effect of Saving on Consumption in a State of Steady Growth,” REStud, Vol. XXIX, June 1962.Google Scholar
  151. Meade, J. E. (1963) “ The Rate of Profit in a Growing Economy,” EJ, Vol. LXXIII, December 1963.Google Scholar
  152. Mirrlees, J. A., and Kaldor, N. (1962) “ A New Model of Economic Growth,” REStud, Vol. XXIX, June 1962.Google Scholar
  153. Morgenstern, O., Kemeny, J. G., and Thompson, G. L. (1956) “ A Generalization of the Von Neumann Model of an Expanding Economy,” Em, Vol. 24, April 1956.Google Scholar
  154. Morishima, M. (1958) “ Prices, Interest and Profits in a Dynamic Leontief System,” Em, Vol. 26, July 1958.Google Scholar
  155. Morishima, M. (1959) “ Some Properties of a Dynamic Leontief System with a Spectrum of Techniques,” Em, Vol. 27, October 1959.Google Scholar
  156. Morishima, M. (1960) “ Economic Expansion and the Interest Rate in Generalised Von Neumann Models,” Em, Vol. 28, 1960.Google Scholar
  157. Morishima, M. (1961) “ Proof of a Turnpike Theorem: The ‘ No Joint Production Case,’ ” REStud, Vol. XXVIII, February 1961.Google Scholar
  158. Morishima, M. (1964) Equilibrium Stability and Growth ( London: Oxford,University Press, 1964 ).Google Scholar
  159. Morishima, M., and Seton, F. (1961) “ Aggregation in Leontief Matrices and the Labour Theory of Value,” Em, Vol. 29, April 1961.Google Scholar
  160. Morishima, M., and Kaneko, Y. (1962) “ On the Speed of Establishing Multisectoral Equilibrium,” Em, Vol. 30, October 1962.Google Scholar
  161. National Bureau of Economic Research (1962) The Rate and Direction of Inventive Activity, Universities-National Bureau Committee for Economic Research (Princeton: Princeton University Press, 1962 ).Google Scholar
  162. Neild, R. R. (1963) Pricing and Employment in the Trade Cycle ( London: Cambridge University Press, 1963 ).Google Scholar
  163. Neisser, H. (1954) “ Balanced Growth under Constant Returns to Scale: Some Comments,” Em, Vol. 22, October 1954.Google Scholar
  164. Nelson, R. R. (1959) “ The Economics of Invention: A Survey of the Literature,” JB, Vol. 32, April 1959. vonGoogle Scholar
  165. von Neumann, J. (1938) “ Über ein ökononomisches Gleichiingsystem und eine Verallgemeinerung des Brouwerschen Fixpunktsatzes,” in Ergebnisse eines Mathematischen Seminars (Vienna, 1938). Translated by G. Morgenstern as “ A Model of General Equilibrium,” REStud, Vol. XIII, 1945–46.Google Scholar
  166. Niehans, J. (1963) “ Economic Growth and Two Endogenous Factors,” QJE, Vol. LXXVII, August 1963.Google Scholar
  167. Nikaido, H. (1962) “ Some Dynamic Phenomena in the Leontief Model of Reversely Lagged Type,” REStud, Vol XXIX, October 1962.Google Scholar
  168. Nikaido, H. (1964) “ Persistence of Continual Growth near the Von Neumann Ray—A Strong Version of the Radner Turnpike Theorem,” Em, Vol. 32, January–April 1964.Google Scholar
  169. Paige, D. (1961) “Economic Growth: the Last Hundred Years,” National Institute Economic Review, Number 16, July 1961.Google Scholar
  170. Pasinetti, L. (1962) “ Rate of Profit and Income Distribution in Relation to the Rate of Economic Growth,” REStud, Vol. XXIX, October 1962.Google Scholar
  171. Pearce, I. F. (1962) “ The End of the Golden Age in Solovia: A Further Fable for Growthmen Hoping to be ‘ One Up ’ on Oiko,” AER, Vol. LII, December 1962.Google Scholar
  172. Phelps, E. S. (1961) “ The Golden Rule of Accumulation: A Fable for Growth-men,” AER, Vol. LI, Spetember 1961.Google Scholar
  173. Phelps, E. S. (1962) “ The New View of Investment,” QJE, Vol. LXXVI, November 1962.Google Scholar
  174. Phelps, E. S. (1963) “ Substitution, Fixed Proportions, Growth and Distribution,” IER, Vol. 4, September 1963.Google Scholar
  175. Phillips, A. W. (1954) “ Stabilisation Policy in a Closed Economy,” EJ, Vol. LXIV, June 1954.Google Scholar
  176. Phillips, A. W. (1961) “ A Simple Model of Employment, Money and Prices in a Growing Economy,” Ec, Vol. XXVIII, November 1961.Google Scholar
  177. Phillips, A. W. (1962) “ Employment, Inflation and Growth,” Ec, Vol. XXIX, February 1962.Google Scholar
  178. Pitchford, J. D. (1960) “Growth and the Elasticity of Factor Substitution,” ER, Vol. XXXVI, December 1960.Google Scholar
  179. Radner, R. (1961) “ Paths of Economic Growth that are Optimal with regard only to Final States, a Turnpike Theorem,” REStud, Vol. XXVIII, February 1961.Google Scholar
  180. Reddaway, W. B., and Smith, A. D. (1960) “ Progress in British Manufacturing Industries in the Period 1948–54,” EJ, Vol. LXX, March 1960.Google Scholar
  181. Robinson, J. (1938) “ The Classification of Inventions,” REStud, Vol. V, February 1938.Google Scholar
  182. Robinson, J. (1952) The Rate of Interest and Other Essays ( London: Macmillan, 1952 ).Google Scholar
  183. Robinson, J. (1956) The Accumulation of Capital ( London: Macmillan, 1956 ).Google Scholar
  184. Robinson, J. (1960a) Collected Economic Papers, Vol. Two (Oxford: Blackwell, 1960 ).Google Scholar
  185. Robinson, J. (1960b) Exercises in Economic Analysis ( London: Macmillan, 1960 ).Google Scholar
  186. Robinson, J. (1962) Essays in the Theory of Economic Growth ( London: Macmillan, 1962 ).CrossRefGoogle Scholar
  187. Robinson, J. (1963) “ Findlay’s Robinsonian Model of Accumulation: A Comment,” Ec, Vol. XXX, November 1963.Google Scholar
  188. Rose, H. (1959) “ The Possibility of Warranted Growth,” EJ, Vol. LXIX, June 1959.Google Scholar
  189. Rose, H. (1963) “ Expectations and Stability in Neo-Keynesian Growth Theory,” QJE, Vol. LXXVII, February 1963.Google Scholar
  190. Rosenberg, N., and Ames, E. (1963) “ Changing Technological Leadership and Industrial Growth,” EJ, Vol. LXXIII, March 1963.Google Scholar
  191. Rothbarth, E. (1946) “ Causes of the Superior Efficiency of U.S.A. Industry as Compared with British Industry,” EJ, Vol. LVI, September 1946.Google Scholar
  192. Salter, W. E. G. (1960) Productivity and Technical Change ( London: Cambridge University Press, 1960 ).Google Scholar
  193. Salter, W. E. G. (1962) “ Productivity Growth and Accumulation as Historical Processes,” paper presented to International Economic Association Congress on Problems in Economic Development, Vienna 1962 (publication forthcoming).Google Scholar
  194. Samuelson, P. A. (1947) Foundations of Economic Analysis ( Cambridge, Mass.: Harvard University Press, 1947 ).Google Scholar
  195. Samuelson, P. A. (1951) “ Abstract of A Model concerning Substitutability in Open Leontief Models,” in Activity Analysis of Production and Allocation, edited by T. C. Koopmans ( New York: Wiley, 1951 ).Google Scholar
  196. Samuelson, P. A., and Solow, R. M. (1953) “ Balanced Growth under Constant Returns to Scale,” Em, Vol. 21, July 1953.Google Scholar
  197. Samuelson, P. A. (1953) “ Prices of Factors and Goods in General Equilibrium,” REStud, Vol. 21, 1953.Google Scholar
  198. Samuelson, P. A. (1958) “ An Exact Consumption-loan Model of Interest with or without the Social Contrivance of Money,” JPE, Vol. 66, December 1958.Google Scholar
  199. Samuelson, P. A. (1959) “ A Modern Treatment of the Ricardian Economy: I. The Pricing of Goods and of Labor and Land Services. II. Capital and Interest of the Pricing Process,” QJE, Vol. LXXII, February—May 1959.Google Scholar
  200. Samuelson, P. A. (1960) “ Efficient Paths of Capital Accumulation in Terms of the Calculus of Variations,” in Mathematical Methods in the Social Sciences, edited by K. J. Arrow, S. Karlin, and P. Suppes ( Stanford: Stanford University Press, 1960 ).Google Scholar
  201. Samuelson, P. A. (1962) “ Parable and Realism in Capital Theory: The Surrogate Production Function,” REStud, Vol. XXIX, June 1962.Google Scholar
  202. Samuelson, P. A. and Solow, R. M. (1956) “ A Complete Capital Model involving Heterogeneous Capital Goods,” QJE, Vol. LXX, November 1956.Google Scholar
  203. Sargan, J. D. (1958a) “ Mrs. Robinson’s Warranted Rate of Growth,” YB, Vol. 10, June 1958.Google Scholar
  204. Sargan, J. D. (1958b) “ The Instability of the Leontief Dynamic Model,” Em, Vol. 26, July 1958.Google Scholar
  205. Sargent, J. R. (1962) “ The Stability of Growth Equilibrium: Comment,” QJE, Vol. LXXVI, August 1962.Google Scholar
  206. Sato, R. (1963) “ Fiscal Policy in a Neo-classical Growth Model: An Analysis of Time Required for Equilibrating Adjustment,” REStud, Vol. XXX, February 1963.Google Scholar
  207. Schneider, E. (1958) “ Income and Income Distribution in Macro-Economic Theory,” International Economic Papers, No. 8, 1958.Google Scholar
  208. Schumpeter, J. A. (1939) Business Cycles ( New York: McGraw Hill, 1939 ).Google Scholar
  209. Seton, F., and Morishima, M. (1961) “ Aggregation in Leontief Matrices and the Labour Theory of Value,” Em, Vol. 29, April 1961.Google Scholar
  210. Shove, G. F. (1942) “ The Place of Marshall’s Principles in the Development of Economic Theory,” EJ, Vol. LII, December 1942.Google Scholar
  211. Simon, H. A., and Ando, A. (1961) “ Aggregation of Variables in Dynamic Systems,” Em, Vol. 29, April 1961.Google Scholar
  212. Smith, A. D., and Reddaway, W. B. (1960) “ Progress on British Manufacturing Industries in the Period 1948–54,” EJ, Vol. LXX, March 1960.Google Scholar
  213. Smithies, A. (1957) “ Economic Fluctuations and Growth,” Em, Vol. 25, January 1957.Google Scholar
  214. Solow, R. M. (1956) “ A Contribution to The Theory of Economic Growth,” QJE, Vol. 70, February 1956.Google Scholar
  215. Solow, R. M. (1957) “ Technical Change and The Aggregate Production Function,” REStat, Vol. 39, August 1957.Google Scholar
  216. Solow, R. M. (1959) “ Competitive Valuation in a Dynamic Input-Output System,” Em, Vol. 27, January 1959.Google Scholar
  217. Solow, R. M. (1960) “Investment and Technical Progress,” in Mathematical Methods in the Social Sciences, ed. by K. J. Arrow, S. Karlin and P. Suppes ( Stanford: Stanford University Press, 1960 ).Google Scholar
  218. Solow, R. M. (1961) “ Note on Uzawa’s Two Sector Model of Economic Growth,” REStud, Vol. XXIX, October 1961.Google Scholar
  219. Solow, R. M. (1962a) “ Technical Progress, Capital Formation and Economic Growth,” AER Papers and Proceedings, Vol. LII, May 1962.Google Scholar
  220. Solow, R. M. (1962b) “Substitution and Fixed Proportions in The Theory of Capital,” REStud, Vol. XXIX, June 1962.Google Scholar
  221. Solow, R. M. (1963) Capital Theory and the Rate of Return ( Amsterdam: North Holland Publishing Co., 1963 ).Google Scholar
  222. Sraffa, P. (1960) Production of Commodities by Means of Commodities ( London: Cambridge University Press, 1960 ).Google Scholar
  223. Stone, J. R. N., and Brown, J. A. C. (1962) “ Output and Investment for Exponential Growth in Consumption,” REStud, Vol. XXIX, June 1962.Google Scholar
  224. Streeten, P. (1959) “ Unbalanced Growth,” OEP, Vol. 11, June 1959.Google Scholar
  225. Svennilson, I. (1963) “ Economic Growth and Technical Progress—an Essay in Sequence Analysis,” paper submitted to OECD conference on Residual Factor and Economic Growth, May 20–22, 1963 (unpublished).Google Scholar
  226. Swan, T. W. (1956) “ Economic Growth and Capital Accumulation,” ER, Vol. XXXII, November 1956.Google Scholar
  227. Swan, T. W. (1963) “ Growth Models of Golden Ages and Production Functions,” in Economic Development with Special Reference to East Asia, Proceedings of International Economic Conference, edited by K. E. Berrill ( London: Macmillan, 1963 ).Google Scholar
  228. Takayama, A. (1963) “ On a Two-Sector Model of Economic Growth: A Comparative Statics Analysis,” REStud, Vol. XXX, June 1963.Google Scholar
  229. Tobin, J. (1955) “ A Dynamic Aggregative Model,” JPR, Vol. 63, April 1955.Google Scholar
  230. Tobin, J. (1960) “ Towards a General Kaldorian Theory of Distribution,” REStud, Vol. XXVII, February 1960.Google Scholar
  231. Tsukui, J. (1961) “ On a Theorem of Relative Stability,” IER, Vol. II, May 1961.Google Scholar
  232. Uzawa, H. (1961a) “ Neutral Inventions and the Stability of Growth Equilibrium,” REStud, Vol. XXVIII, February 1961.Google Scholar
  233. Uzawa, H. (1961b) “ On a Two-sector Model of Economic Growth: I,” REStud, Vol. XXIX, October 1961.Google Scholar
  234. Uzawa, H. (1962) “ Production Functions with Constant Elasticities of Substitution,” REStud, Vol. XXIX, October 1962.Google Scholar
  235. Uzawa, H. (1963) “ On a Two-sector Model of Economic Growth: II,” REStud, Vol. XXX, June 1963.Google Scholar
  236. Uzawa, H., and Watanabe, T. (1960) “ A Note on the Classification of Technical Inventions,” Technical Report No. 85, Contract No. 225 ( 50 ), Applied Mathematics and Statistics Laboratories, Stanford University, 1960.Google Scholar
  237. Verdoorn, P. J. (1947) “ Fattori the regolano lo sviluppo della produttività del lavoro,” L’Industria, 1947.Google Scholar
  238. Verdoorn, P. J. (1956) “ Complementarity and Long-range Projections,” Em, Vol. 24, October 1956.Google Scholar
  239. Walters, A. A. (1963) “ Production and Cost Functions,” Em, Vol. 31. January-April 1963.Google Scholar
  240. Weintraub, S. (1958) Approach to the Theory of Income Distribution (Chilton, 1958).Google Scholar
  241. Weizsäcker, C. C. von (1962) Wachstum, Zins und Optimale Investitionsquote (Basel: Kyklos Verlag, 1962).Google Scholar
  242. Weizsäcker, C. C. von (1964) “ Income Distribution and Technical Progress in Equilibrium Growth ”, mimeographed.Google Scholar
  243. Weldon, J. C., and Asimakopulos, A. (1963) “ The Classification of Technical Progress in Models of Economic Growth,” Ec, Vol. XXX, November 1963.Google Scholar
  244. Winter, S. G., Jr. (1961) “A Boundedness Property of the Closed Linear Model of Production,” Review P-2, 3, and 4, July 1961.Google Scholar

Copyright information

© The Royal Economic Society and the American Economic Association 1965

Authors and Affiliations

  • F. H. Hahn
  • R. C. O. Matthews

There are no affiliations available

Personalised recommendations