Download Economic Growth in Theory and Practice by R. M. Sundrum (auth.) PDF

By R. M. Sundrum (auth.)

ISBN-10: 0230376819

ISBN-13: 9780230376816

ISBN-10: 1349389471

ISBN-13: 9781349389476

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289 thereafter. Thirdly, we note that there is a similar pattern in the growth rate due to the re-allocation effect, which increases until period 12 and declines rapidly thereafter. 4 for theM-sector. 4 in several periods; this is because of the contribution from the re-allocation effect. Thus we see that the re-allocation effect is a ve'ry significant source of the logistic pattern of overall growth. In fact, the re-allocation effect alone can produce the logistic pattern. 3 per period in all sectors.

4, p. 236. the three sectors. 5. Similar data are not available for other countries for any long period. 6 showing the data for 1960 and 1980 for groups of countries classified according to their per capita incomes. 7. The proportionate allocation of labour to the three sectors is generally different from the relative sectoral shares of GOP. This is because labour productivity varies widely from sector to sector. e. the labour productivity in each sector as a ratio of labour productivity in the economy as a whole.

23-4, 28) 'the rates at which the economies of developed nations grew are little short of astounding', representing 'a striking acceleration of the growth rate in premodern times for Western Europe possibly by a factor of 10'. 3. 20 Growth and Structural Transformation This process of modern economic growth which started in Europe in the late eighteenth and early nineteenth centuries, however, affected only a small group of countries. Most other countries continued at the traditional low rates of growth.

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Economic Growth in Theory and Practice by R. M. Sundrum (auth.)


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