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Journal articles on the topic 'Harrod-Domar Growth Model'

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Published: 4 June 2021
Last updated: 17 February 2022

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1

Tarasov, Vasily E., and Valentina V. Tarasova. "Harrod–Domar Growth Model with Memory and Distributed Lag." Axioms 8, no. 1 (January 15, 2019): 9. http://dx.doi.org/10.3390/axioms8010009.

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In this paper, we propose a macroeconomic growth model, in which we take into account memory with power-law fading and gamma distributed lag. This model is a generalization of the standard Harrod–Domar growth model. Fractional differential equations of this generalized model with memory and lag are suggested. For these equations, we obtain solutions, which describe the macroeconomic growth of national income with fading memory and distributed time-delay. The asymptotic behavior of these solutions is described.
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2

Ahmad, Eatzaz, and Amber Naz. "An Empirical Analysis of Convergence Hypothesis." Pakistan Development Review 39, no. 4II (December 1, 2000): 729–40. http://dx.doi.org/10.30541/v39i4iipp.729-740.

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A useful contribution of wide ranging debate in the growth literature is that it has put forward a number of testable hypotheses. One of such hypotheses is known as the convergence hypothesis whereby it is postulated that in the long run developing countries would catch-up with the developed countries in terms of per capita income. Although the convergence hypothesis has gained researchers’ interest in recent times, the basic proposition was laid down in the neo-classical growth model of Solow (1956) and Swan (1956). Traditionally Solow-Swan model has been regarded as a theoretically consistent answer to Harrods’s (1939) twin problems of discrepancy between the warranted and natural rates of growth and instability in the growth process. Although Solow- Swan model is designed to study growth process within a single country, the concept of conditional convergence is far from being alien to the model; it in fact forms the core of argument in the attack on Harrod-Domar model [Harrod (1939) and Domar (1946)].
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3

Boianovsky, Mauro. "Domar, expectations, and growth stabilization." Cambridge Journal of Economics 45, no. 4 (June 8, 2021): 723–50. http://dx.doi.org/10.1093/cje/beab019.

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Abstract Evsey Domar investigated in the 1940s the implementation of growth stabilization policy under the assumption that policy makers and businessmen alike believed his theoretical growth model. Economic policy was supposed to work merely through the impact of its announcement on expectations. He claimed that confident expectations, generated by government’s assurance of future growth through fiscal policy, would induce private investment decisions in a scale that would bring about the required growth rate and by that justify the expectations, without putting the guarantee to test. Domar’s policy framework contrasts with the policy-ineffectiveness proposition of New Classical macroeconomics advanced in the 1970s. Domar’s stabilization plan is discussed in detail in the context of his growth model, together with similar ideas put forward by Roy Harrod, as the latter modified aspects of his original growth model, and critical reactions by Alvin Hansen.
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4

Rumawir, Jeane. "The Implementation of Harrod-Domar Economic Growth Model in North Sulawesi, Indonesia." International Journal of Applied Business and International Management 4, no. 1 (April 20, 2019): 19–30. http://dx.doi.org/10.32535/ijabim.v4i1.379.

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The study aimed to: Understand and analyze the poors perceptions and attitude on poverty reduction programs, identify, elaborate, and analyzethe term poor among the poor people and identify and analyze meaning and expectation on poverty reduction program. This research applies developmental research method; the analysis model uses SEM (Structural Equation Modeling). Before applying this model, goodness of fit was conducted in order to find out whether this model can be accepted or not. The model could achived goodness of fit; therefore, all variables could follow hypothesis test. The research result showed the changed in economic structures have direct significant influence on the government’s stimulus and economic growth. Capital establishment also has direct unsignificant effect on the government’s stimulus. Capitall establishment has significant influence to the economic growth and the socio cultural influence does not have significant influence to the economic growth. These results indicate that the greater stimulus of the government signified by precise goals leads to better economic growth.
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5

Akaev, A., U. Dzhamakeev, and A. Korotayev. "Economic Dynamics of the United States in 1990—2011: Keynesian Analysis." Voprosy Ekonomiki, no. 1 (January 20, 2013): 117–30. http://dx.doi.org/10.32609/0042-8736-2013-1-117-130.

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In this work a Keynesian analysis of economic development of the USA in 1990—2011 has been carried out. At the beginning, on the basis of the simple Harrod — Domar growth models, it has been shown that in this period the economic policy of the government did not provide balanced and sustainable economic growth. Then, in-depth analysis of economic growth with the use of Tobin’s monetary dynamic model has been carried out and it has been shown that recession in the U.S. economy, observed in 2007—2009, was the result of an explosive growth in the money supply caused by the need to finance the huge budget deficit. It has also been concluded that if the current trend of money emission persists, the implementation of the next quantitative easing program QE3 as early as in 2013 will lead to a new recession.
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6

Khan, Ashfaque H., and Zafar Mueen Nasir. "Stylised Facts of Household Savings: Findings from the IDES 1993-94." Pakistan Development Review 37, no. 4II (December 1, 1998): 749–63. http://dx.doi.org/10.30541/v37i4iipp.749-763.

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Saving, the fraction of national income that is not spent on current consumption, has long been widely regarded as a key factor in economic growth.1 The saving rate along with the incremental capital-output ratio determine the growth rate of the economy in the Harrod-Domar Model framework. The critical role of saving in capital accumulation and economic development is also recognised in the "two-gap" and classical growth models. For capital accumulation to result in sustained growth, it must be supported by adequate domestic/national savings. This has been clearly demonstrated by the extra-ordinary performance of the East Asian economies. While there have been brief periods of significant inflow of external financial resources to some developing countries in the past, foreign savings cannot be expected to provide a sustainable basis for financing domestic investment. Raising' national saving rate is particularly essential to developing countries with a heavy debt service burden and limited capacity to obtain loans in foreign capital markets. The 1995 Mexican crisis showed, among other things, that low domestic savings can raise the probability of sudden capital outflows, and sharpen their negative consequences. In a financially integrated world, high national/domestic savings contribute to macro economic stability which is itself a powerful growth factor. Indeed, any macro economic adjustment programmes oriented to the resumption of long-run growth invariably emphasise the need to expand domestic savings.
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7

MAHADEA, DARMA. "PROSPECTS OF ENTREPRENEURSHIP TO THE CHALLENGE OF JOB CREATION IN SOUTH AFRICA." Journal of Developmental Entrepreneurship 17, no. 04 (December 2012): 1250020. http://dx.doi.org/10.1142/s1084946712500203.

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Entrepreneurship is critical to job creation and economic growth. Unemployment in South Africa is presently at about 25 percent. The formal sector is unable to provide adequate employment opportunities for labor although the country registered positive economic growth rates over the past 17 years since the demise of apartheid. Some people manage to obtain employment in the informal sector. However, this sector also has been shedding labor recently. Although the government has responded with many initiatives to deal with employment creation, unemployment rates, especially among the youth, remain a formidable challenge. Entrepreneurship, through the creation of new ventures and expansion of business firms, can make a difference to absorb more people in the labor market. However, this depends on the level of entrepreneurial capacity and environment of the South African economy. This paper examines the problem of low employment economic growth performance over the post-apartheid period. By drawing on the Harrod-Domar model as a heuristic guide, and using regression analysis, the paper highlights the probable links between changes in economic growth and in employment. The results indicate the marginal employment growth effect is positive, the growth elasticity of employment is low over the 1994–2010 period and investment in relation to the country's desired growth in GDP is also found to be low. The paper identifies some constraints to employment creation against the entrepreneurial environmental conditions in South Africa and then examines how entrepreneurship can make a difference to employment creation.
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8

Tarasov, Vasily E. "Generalized Memory: Fractional Calculus Approach." Fractal and Fractional 2, no. 4 (September 24, 2018): 23. http://dx.doi.org/10.3390/fractalfract2040023.

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The memory means an existence of output (response, endogenous variable) at the present time that depends on the history of the change of the input (impact, exogenous variable) on a finite (or infinite) time interval. The memory can be described by the function that is called the memory function, which is a kernel of the integro-differential operator. The main purpose of the paper is to answer the question of the possibility of using the fractional calculus, when the memory function does not have a power-law form. Using the generalized Taylor series in the Trujillo-Rivero-Bonilla (TRB) form for the memory function, we represent the integro-differential equations with memory functions by fractional integral and differential equations with derivatives and integrals of non-integer orders. This allows us to describe general economic dynamics with memory by the methods of fractional calculus. We prove that equation of the generalized accelerator with the TRB memory function can be represented by as a composition of actions of the accelerator with simplest power-law memory and the multi-parametric power-law multiplier. As an example of application of the suggested approach, we consider a generalization of the Harrod-Domar growth model with continuous time.
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9

Ilyash, Olha, Taras Vasyltsiv, Ruslan Lupak, and Volodymyr Get’manskiy. "Models of efficiency of functioning in trading enterprises under conditions of economic growth." Bulletin of Geography. Socio-economic Series 51, no. 51 (March 1, 2021): 7–24. http://dx.doi.org/10.2478/bog-2021-0001.

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Abstract The socio-economic situation in Ukraine suggests that there is insufficient research into the applicability of the model of economic development in forecasting the economic environment in which trade enterprises function. Researchers into issues relating to the efficiency of enterprises’ functioning focus their interest on comprehensively describing efficiency indicators and determining the factors influencing it. There continues to be insufficient work on measuring efficiency and the extent to which it is limited by types of economic growth (development), based on the theory of marginal product of George Clark and the results of multiple models of production and trade functions (P. Douglas, R. Solow, E. Denison, Harrod, Samuelson-Hicks, Domar and others). Therefore, this study focuses on the process of assessing the effectiveness of trading enterprises in the trade sector in 2010–18 in conditions of economic growth and an economic downturn. This article aims to examine the models of efficient functioning of trading enterprises in conditions of economic growth. It is evidenced that the criterion for measuring efficiency is the evaluation of static and dynamic efficiency of trade activities, which allows changes in the used assets to be taken into account and testifies to the integration of diminishing returns and economic fluctuations in macro and microsystems. The article shows that in order to qualitatively and completely evaluate the efficiency of the functioning of trading enterprises, it is necessary to consider all possible factors. According to Clark's law, the authors substantiate an approach to evaluating performance based on simple one-factor models; the approach evidences that future studies seeking ways to improve efficiency, but that focus on changes in resources, will be erroneous, unjustified, and will most likely reduce the effectiveness of the resource under study. This model will help: determine and forecast the efficiency of enterprises at any point in the economic cycle; provide the necessary information on the required amount of investment, on depreciation rates, and on the optimal amount of labour potential of an enterprise; and define the volume of expected income during economic crisis or recovery. Some applied recommendations in terms of managing the efficiency of trading enterprises are aimed at solving the methodological problem of constructing isoquant maps for a particular product line group and at selecting the optimal predictor for forecasting trade processes. The practical value of the proposed model also lies in improving the parameters of positioning of the enterprise's goods in target market segments, reducing operating costs, accelerating the turnover of inventories and withdrawing illiquid current assets, and increasing the efficiency of retail areas.
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10

Dasgupta, Dipankar. "Fixed coefficients, Harrod, Domar and the AK models of growth - Some common misconceptions explored." Indian Growth and Development Review 1, no. 1 (April 18, 2008): 112–18. http://dx.doi.org/10.1108/igdr.2008.35001aab.001.

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11

Betz, Frederick. "Disequilibrium Systems Representation of Growth Models—Harrod-Domar, Solow, Le-ontief, Minsky, and Why the U.S. Fed Opened the Discount Window to Money-Market Funds." Modern Economy 06, no. 12 (2015): 1189–208. http://dx.doi.org/10.4236/me.2015.612113.

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12

Vandenberg, Hendrik. "Extending the Harrod-Domar Model." American Review of Political Economy 13, no. 1 (January 1, 2019). http://dx.doi.org/10.38024/arpe.183.

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13

"The Harrod – Domar Growth Model and its Implications for Economic Development in Vietnam." International Journal of Humanities, Social Sciences and Education 6, no. 4 (2019). http://dx.doi.org/10.20431/2349-0381.0604003.

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14

Hlotywa, Anathi, and Emeka A. Ndaguba. "Assessing the impact of road transport infrastructure investment on economic development in South Africa." Journal of Transport and Supply Chain Management 11 (September 20, 2017). http://dx.doi.org/10.4102/jtscm.v11i0.324.

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Background: There has been considerable decline in the investment on road transport infrastructure in recent times, as a result of the dwindling economic investment owing to lowering gross domestic product (GDP) since 2009.Objective: The objective of this study was to examine the relationship between road transport investment (ROTI) and economic development (ED) in South Africa. This article adopts the Harrod–Domar (HD) model of economic growth and development theory, endogenous growth theory and Solow–Swan neoclassical growth model.Method: Data were derived from the South African Reserve Bank, Quantec database and Statistics South Africa (StatsSA) between 1990 and 2014. It used time series, econometric models cointegration and vector error correction model (VECM) to analyse.Result: The results of the estimation demonstrate that the explanatory variables account for approximately 86.7% variation in ED in South Africa. Therefore, there exists a positive relationship between ROTI and ED.Conclusion: This study established a long-run relationship between phenomena and demonstrates the role of road transport investment on economic development in South Africa.
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15

C. O., Okoro,, Nzotta, S. N., and Alajekwu, U. B. "Effect of International Capital Inflows on Economic Growth of Nigeria." International Journal of Science and Management Studies (IJSMS), February 28, 2019, 13–25. http://dx.doi.org/10.51386/25815946/ijsms-v2i1p102.

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The study examined the effect of international capital inflows on economic growth of Nigeria for the periods, 1986 to 2016. The study employed four core channels of international capital inflows which includes foreign direct investment (FDI), official development assistance (ODA), personal remittances (REM), and external debt stock (EXTDS) into Nigeria as the explanatory variables and GDP growth rate as the dependent variable. The model of the study was hinged on the Harrod-Domar growth model and employed Johansen co-integration and Ordinary Least Square (OLS) techniques for data analyses. The result showed that international capital inflows have long run effect on economic growth of Nigeria. Specifically, the OLS revealed that FDI and REM had significant positive effects on economic growth. However, EXTDS and ODA had no significant effects on economic growth. The study further showed that international capital is a powerful tool for boosting economic growth of Nigeria(R-square = 71%). The recommendations among others include that policy makers should forthwith discourage the use of external debt and official development assistance in Nigeria.
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16

Bikoué, Siméon Maxime, and Collins Chi Penn. "What Strategies for the Sustainable Management of Public Debts in Sub-Saharan Africa?" Journal of Economics, Management and Trade, September 18, 2020, 75–86. http://dx.doi.org/10.9734/jemt/2020/v26i630267.

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Aim/Method: This article examines the different strategies required for the sustainability of sub-Sahara Africa’s external debt by applying the Simonsen criterion[1] and the conditions of the Harrod-Domar debt and growth model. Results/Conclusion: We then suggest that for debt to be sustainable the financial ratios have to be respected. So the effective servicing of the external debt in Sub-Saharan Africa requires that the expenses incurred in reducing poverty should be known. If the difference between the net returns and the expenses incurred in fighting against poverty is negative this reduces the burden of the debt. Finally, we recommend that Sub-Saharan African countries should use a combination of strategies based on sustainable development, financial resources of the government, and regulatory and institutional norms to manage their debts sustainably.
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17

"Book Reviews." Journal of Economic Literature 53, no. 2 (June 1, 2015): 364–65. http://dx.doi.org/10.1257/jel.53.2.360.r4.

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John Harvey of Texas Christian University reviews “Distribution and Growth after Keynes: A Post-Keynesian Guide”, by Eckhard Hein. The Econlit abstract of this book begins: “Focuses on the link between “functional income distribution” and growth or economic development in theories of distribution and growth after John Maynard Keynes. Discusses from Keynes to Evsey David Domar and Roy Forbes Harrod─considering the capacity effect of investment and an attempt at dynamic theory; Neoclassical distribution and growth theory─old and new and a critique; post-Keynesian distribution and growth theories I─Nicholas Kaldor, Luigi L. Pasinetti, Anthony P. Thirlwall, and Joan Robinson; post-Keynesian distribution and growth theories II─Michal Kalecki and Josef Steindl; the basic Kaleckian distribution and growth models; extending Kaleckian models I─saving out of wages and open economy issues; extending Kaleckian models II─technical progress; extending Kaleckian models III─interest and credit; extending Kaleckian models IV─finance-dominated capitalism; and the Kaleckian models and classical, Marxian, and Harrodian critique.” Hein is Professor at the Berlin School of Economics and Law.
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