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Comparative Advantage and Development Policy

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Book cover Surveys of Economic Theory

Abstract

In the great revival of interest in economic development that has marked the past decade, attention has centered on two main questions: first, what determines the over-all rate of economic advance?; second, what is the optimal allocation of given resources to promote growth? Analysis of the growth rate has relied mainly on the Keynesian tools and has produced a multiplicity of aggregate growth models. The second question, however, reopens more ancient economic issues, and their analysis must start from the classical and neo-classical solutions. Only very recently have the two types of discussion tended to come together in the more comprehensive framework of general equilibrium analysis.

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Authors
  1. Hollis B. Chenery
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© 1965 The Royal Economic Society and the American Economic Association

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Chenery, H.B. (1965). Comparative Advantage and Development Policy. In: Surveys of Economic Theory. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-00460-7_2

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