Chapter

Capital Accumulation in Economic Development

Yujiro Hayami and Yoshihisa Godo

in Development Economics

Third edition

Published in print February 2005 | ISBN: 9780199272709
Published online October 2005 | e-ISBN: 9780191602870 | DOI: http://dx.doi.org/10.1093/0199272700.003.0006
 Capital Accumulation in Economic Development

More Like This

Show all results sharing this subject:

  • Economic Development and Growth

GO

Show Summary Details

Preview

Reviews theoretical justifications and economic consequences of a development strategy adopted, commonly by newly independent developing countries in a few decades after the Second World War, which advocated maximizing capital accumulation in the industrial sector by means of government planning and command. The general failure of this strategy, which had become evident by the 1980s, produced a conviction that accumulated capital cannot be an effective basis for economic development unless it is combined with appropriate technology and manpower under appropriate institutions.

Keywords: Adam Smith; capital accumulation; classical development models; growth accounting; Marx; planning; post-war growth models; Ricardo

Chapter.  15869 words.  Illustrated.

Subjects: Economic Development and Growth

Full text: subscription required

How to subscribe Recommend to my Librarian

Buy this work at Oxford University Press »

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.