Abstract

BERNAL BELLON, José Reyes. LA TASA DE CRECIMIENTO GARANTIZADA DE HARROD COMO LEY DEL CRECIMIENTO ECONÓMICO: UNA COMPROBACIÓN EMPÍRICA. Cuad. Econ. [online]. 2008, vol.27, n.49, pp.57-88. ISSN 0121-4772.

In the 1950s, there were important developments in growth theory based on Harrod´s (1939) Post-Keynesian growth model that sought to solve theoretically the problem of instability in this model. However, no literal empirical verification of the model has been done. This article modifies the Harrod model to include technical change and provides empirical proof by means of different methodologies. It concludes that Harrod´s guaranteed growth rate tends to be a law in economic growth theory.

Keywords : economics growth; technological change; capital output marginal ratio; marginal propensity to save.

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