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- W1569345091 abstract "A growth model is developed for an open dual economy. The economy expands due to a higher growth rate of labour productivity in the modern sector through the Kaldor-Verdoorn channel and higher effective demand through a Keynesian channel. The model incorporates a retardation mechanism affecting the slopes of productivity and output growth schedules as labour surplus and economies of scale diminish. A wage or profit-led regime and initial conditions may give rise to: de-industrialization in terms of both output and employment; a growth trap sustaining a situation of structural heterogeneity; or sustainable employment and adequate output and productivity growth." @default.
- W1569345091 created "2016-06-24" @default.
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- W1569345091 date "2007-07-31" @default.
- W1569345091 modified "2023-09-26" @default.
- W1569345091 title "A Growth Model for a Two-Sector Economy with Endogenous Productivity" @default.
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- W1569345091 doi "https://doi.org/10.18356/e252cd64-en" @default.
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