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Dependent and self-reliant growth with foreign borrowing: a comment

Article Abstract:

A Harrod-Domar type of growth model associated with an open economy was used to analyze foreign and domestic savings. This model assumes that the marginal capital output ratio, investment shares and the domestic product determine the growth rate of productive capacity. The dynamics of the model have to be evaluated in terms of a time path of a warranted growth rate in an open economy because it lacks an autonomous investment function. The model also indicates that the relationship between the current account and capital accumulation restricts the warranted growth rate.

Economic aspects, Balance of trade, Foreign loans

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What is the Singapore model of economic development?

Article Abstract:

The rapid economic development of Singapore signifies the importance of central economic planning and governmental interventions in selected economic areas. An analysis of its developmental processes and strategies demonstrates the importance of investment in infrastructure and educational sectors. Singapore responded to the international economic situation by manipulating its domestic policy, which was secured by extensive governmental interventions. Its service and manufactured goods sectors were developed to promote export.

Usage, Economic policy, Singapore, Central planning

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Testing Goodwin: growth cycles in ten OECD countries

Article Abstract:

Issues concerning Richard Goodwin's 'predator-prey,' growth cycle model of the economy are discussed. Goodwin-type models must show themselves to be empirically plausible before it is possible to move on to try empirical specification of more complex and realistic models.

Criticism and interpretation, Goodwin, Richard

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