The Theory of Aggregate Investment and Output Dynamics in Open Economic Systems

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Kofi Kissi Dompere

Book Code: GM0794

ISBN: 0-313-30794-6

ISBN-13: 978-0-313-30794-2

DOI:

208 pages, figures,tables,references

Greenwood Press

Publication: 11/30/1999

List Price: $131.95 (UK Sterling Price: £75.00)

Availability: Out of stock

Media Type: Hardcover

Trim Size: 6 1/8 x 9 1/4

Subjects:

Series Title: Contributions in Economics and Economic History

Series Number: 204

Description: Building on his companion volume on closed economic systems, Dompere develops a theory of aggregate investment, optimal capital, and output dynamics for open economic systems under neo-Keynesian conditions with special reference to growth policy. By constructing and tracing the path of equilibrium aggregate investment, the study isolates and analyzes the internal and external factors that influence the adjusting of investment to aggregate finance and profit. It examines the role international trade and finance play in alleviating domestic technological and savings constraints on capital creation and growth. The theory's conclusions are used to analyze the rate of accumulation and finance needed to support a rate of output growth selected as part of an internal aggregate decision process. The analysis is extended to aggregrate development capital-output planning. The study goes on to discuss conceptual and aggregational problems of measures of economic openness implied in the data requirements across national economies. Here a unique set of theoretical measures of economic openness, different from the traditional, is developed. The book, further, presents a critique and appraisal of the essential capital elements implied by endogenous growth theory.

Table of Contents:

Introduction
The Neo-Keynesian Theory of Aggregate Investment in an Open Economy
Some Lessons for Economic Growth and Development
Some Lessons for Aggregate Economics Planning and Development
Aggregation, Measures of Openness and the Neo-Keynesian Aggregate Theorizing
A Reflection on Capital Accumulation and Growth
Knowledge and Ignorance in Endogenous Growth Theory
Toward a Theory of Endogenous Technical Progress
Comments and Conclusions
References
Index

LC Card Number: 98-21666

LCC Class: HB843

Dewey Class: 332


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