An Integrated Model of Cumulative Growth: Empirical Evidence for Nine OECD Countries, 1960-1990

Pini, Paolo (1994) An Integrated Model of Cumulative Growth: Empirical Evidence for Nine OECD Countries, 1960-1990. Bologna: Dipartimento di Scienze economiche DSE, p. 40. DOI 10.6092/unibo/amsacta/5126. In: Quaderni - Working Paper DSE (200). ISSN 2282-6483.
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This paper is an empirical analysis of the interaction between the dynamics of demand, productivity and employment in nine industrial countries, viz. The United States, Canada, Japan, West Germany, France, Italy; the United Kingdom, the Netherlands, and Belgium, from 1960-1990. Its theoretical framework derives from the Kaldorian approach to cumulative growth in both its external and internal causation versions. The model we adopt is of an integrated kind, in which foreign demand is determined endogenously and domestic demand is divided up into its various component parts: exogenous for the public sector and endogenous for the private. More specifically, this is carried out by describing the way the dynamics of private cosumption and private investments depend on economic variables located in the spheres of distribuction and of technology, so that we can consider the operations of income compensation effects induced by technological change – via changes in income and its social distribution – as well as price compensation effects – the higher competitiveness of national products in foreign markets – mediated through the dynamics of exports.

Document type
Monograph (Working Paper)
Pini, Paolo
Economic growth, technological change, Industrial employment, Productivity and Demand regime
Deposit date
10 May 2016 08:13
Last modified
11 May 2016 08:24

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