Economics Department Working Paper Series
Working Paper Number
2015-16
Publication Date
2015
Abstract
Growth in low-income developing economies with large sectors characterized by underemployment is unlikely to be wage-led in the traditional neo-Kaleckian sense of the term. Output and employment in the sectors of the economy producing non-tradable output could be demand-led, however, and policies directly aimed at more equitable distribution in these sectors could boost long-run growth. Some of the fast growing Asian economies may have been examples of wage-led growth in this rather different sense of the term. Over time, re-distributive measures in the traditional sector, such as land reforms, could lead to faster wage and output growth across the economy.
DOI
https://doi.org/10.7275/7583988
Recommended Citation
Razmi, Arslan, "Growth and Distribution in Low Income Economies: Modifying Post Keynesian Analysis in Light of Theory and History" (2015). Economics Department Working Paper Series. 181.
https://doi.org/10.7275/7583988