Please use this identifier to cite or link to this item:
Appears in Collections:Economics Working Papers
Peer Review Status: Unrefereed
Title: Instability in a Market Economy and the Harrod Growth Model
Author(s): Ghosh, Dipak
Contact Email:
Citation: Ghosh D (2009) Instability in a Market Economy and the Harrod Growth Model. Stirling Economics Discussion Paper, 2009-11.
Keywords: Instability
Post-Keynesian Growth
Role of Expectation
Open system
JEL Code(s): E12
Issue Date: May-2009
Series/Report no.: Stirling Economics Discussion Paper, 2009-11
Abstract: What is very often overlooked in the literature is that the Harrod’s Post- Keynesian growth model is more to do with the problem of instability in a market economy which is caused by the role of expectations of the investors. The neoclassical model of growth due to Solow achieves stability not due to its assumption of smooth twice differentiable production function but assuming away the role of uncertainty.
Type: Working or Discussion Paper
Affiliation: Economics

Files in This Item:
File Description SizeFormat 
SEDP-2009-11-Ghosh.pdf110.56 kBAdobe PDFView/Open

This item is protected by original copyright

Items in the Repository are protected by copyright, with all rights reserved, unless otherwise indicated.

If you believe that any material held in STORRE infringes copyright, please contact providing details and we will remove the Work from public display in STORRE and investigate your claim.