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    Teoria do Crescimento Econômico.

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    Teoria do Crescimento Econômico.

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    6 views8 pages

    Analise Economica Do Direito 20132

    Uploaded by

    Vladimir Guimarães Farias Sodré
    Teoria do Crescimento Econômico.

    Copyright:

    © All Rights Reserved
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    ener ‘An Introduction to Modern Theories of Economie Growl Heel pie secon An Introduction to Modern Theories of Economic Growth Hywel G. Jones Unie Swarr 200% coupat NewYork St Louie Ekibi eacn 160 sueLe conceemoNs oF TEEHMCAL PROCRESE 12 The Representation of Technical Progr Given the idea that technical progress may be an important factor inthe proceso economic growth, it isnecesiry to find means whereby team be Fepresentd in the simple growth models of Chapters 2-S. Tn one-fo0d ‘model of growth itis lear thatthe only possible effect of technological Dtogress i to allow more of te single multi-purpose commodity to be Droguced given the inputs of capital and labour. To quote Salle “The common characte of al such (lechnologcal) advances that ty lad ip anew production function whichis supecior tits redeeasr inthe sense that les of on or more factors of production is fequced vo produce a poen output (220) p. 21), ‘Thus, in tems of our peroworker production fonction (ste 24(0KD) technical progress implies Tat the production function Skis upmase asin Fig 7 Ferd In Fig. 71 the production function is orginally that lustrated by the ‘curve (2). Following ecalel progress, the curve shits upwards tothe few poston ky) sich that at cach level ofthe capital labote ratio (cept zero) more output per worker can be produced than previously. “Although the situation postayed ia Fg. 6 constutes the conventional textbook istration, Atkinson and Siglit(16) have recently emphasized that thar i mo reason to suppas thatthe whole curve would be shiftod ‘upmards by technieal progress. Tey pont out that the basic ea under ‘ving the smooth neoclassieal per-worker production function i that there exist a large numer of dilletent procestes of production which can be fpproximated by e smooth curve (ee 62). ‘They suggest at toca progress in anyone of the separate process of production need not fst any of the other prooeses and tt as & consequence, the elect of \echnial progres: would be to produce “bulge in the pe-wotker prox duction function rather than to Shift the whole curve, Their suggestion strated in Fi. 12. The most general method of representing the elfet of technological change in a model of economic grow involves revitng the agree ‘radition function as ‘ = FKL 2 Eapation (2.1) dies fom. our previ venions of ke aggete Jadu fncion by the con oem art hich ope ts ta he ou nerd by my fod sombian of capa ea labour itresion ines ternal pow oe Fig. 72 ‘Ths persworker production Fenction writen y= feo) 029 wi yo Yieand ke = it Although equations (72.1 238 (7.22) constitute the most general forms of the aggregate production function in the pretence of technological ‘rogress, «ferent formulation is widely used inthe Irate In this ‘method, teshnical progress is sid to be Pacton-ALowEsTING. Techni! progress shits the production fuetion sua fat mote outputs pric ‘even though the stock of capital and the labour force'may fot ive “The abe ¢ oul sngy te ney ata de of esha proren—tat 152 SIMPLE CONCEPTIONS OF TECHNICAL PROGRESS Increased, I sas ifthe factors of production had ben augmented, In this Formulation th apgesate production faction is writen 38 Fa RACoK.BOOL) ae In equation 2.3) outpa,¥ no lone a simple urcton ofthe quan {hs of expand abou The stock of pital, Kad he bourne ‘re lid by falas and B whic re bath faneton ke. The txpresons AUK and AO) are aly tlre to 3 fective op a ‘ect tour espe. Teen simple I A) the rat of ehange of is poate then, Une goes on the eee capital sock neous ‘renhough the cuca tock may have remained conan, Silay, if ponte ten the eetve abor fore increasing cnn he fetal lout fre is eonstan, In onsets tera, ts for of feo fgmenting ecm progres inl fr example, that fen en can theamovit of work prevunlypronaa by twee, andor ve rnchines Dade th opt hat pres roared si Ted postive art A) ~ hen ahaa hangs ad to be ply cepiatagronng.‘Convraty, if AG) = Lan 6) fs pose hed ict huge sil obo pret twa augment. Fly. 0) = 1G) then tecnica eng ath to be gt opt ad our armen Tis eri to retze that th fctorsugmting sepsentaton of techie change does no imply anything about causaton ox the suse Ofte teil impotent I, for expe, esl poms be rent as bsg purely bor stgimenting we comet ier tha hee fa bee an intnehangs in the qly oh boa oe. Salo ‘ordi could nfs tran improve inthe dsgn oh pewter Uhat ghes one setetry the stength af 1-04 sere ster oar has ‘gone by” (252) p. 35). Most simple moti of growth, incorporating textnolgial poses, some tha tschnsal proses proceeds ats conta exogonas prope. tina rate Thus the factorangnetng represen of hcl prog can be unmarind3llows FORD ee with Ai =m luplis purely ceptatamgmeniiyy wehnical progss at the consont proportional ate. Ye AKOD ae with Boye) =m TIO OF TECHNICAL PROGRESS. 180 implies purely faboura Hal rated yi wgmening echnical progress tthe contant propor = FAWDKBOL) with 4/40) = By Ate) =m hich, by constant returns to sal can be write. as = ARK) 26 lapis hat cesnicalprogis seul O88 can cept ad lbow-aermeig at ‘the constant proportional rate m, pene co pl cea of atnig that hi roars cee a conta sroprinl rate is csly open to wvee Ghtaea Se as commend tht: Few ides have proved so nuance ia progress doesnot cur by accident but trough he dtprte {isesion ofresourees to activities which gnerate prograsp fm, roi or Both (13) p13), Nevertheless, the simple representation of [rvide suring post forthe analysis of model of grovik nesporcon, ‘not be forgotten, We return othe criticisms an Se tigen to thas Szaion?.6, “ate ciples eatnent chap 4h kal progres itroardeds sone the gos anat on extenal shes rae and en ne neces overtime in theoupu tat ca hepmodaee combinatn office of producto’ (85) #7 copay daly 13 The Ciassication of Technical Progress disuibwion a income, Two main esas " {G0 pp 2-1 aod Harod (10) 0.23) ean' ope eS an both be ftxpreted in terms of thee of og fhersatvesares of capt and labour, MEM Progr upon ed ets of sien dn lw 247 a Fel and Rai) ey ewei tl 6 Alen (7p. 289 Dueatr and Sosa 460 eMPLE CONCEDTIONS oF TEENMCAL PROGRESS (@) Hicks Classitetion of Technical Progress Sir John Hicks intoicod ths lasaisation of tecicl progress associate ‘withhis amen his Theory of Wages (107) ‘Wecan claslyimentions aconngly as thei efestsareto increess leave changed or diminish the ratio te marginal prod ‘feapial to that of abou. We may eall these ventions “abou ving” “noural”and eapitalsaving” respectively (UT). 121), Iti foem the definition appears tobe admirably ear and unambiguous, ve dante the marsial predicts of capital and labour Before the onset of tochaical progress as Fe(O) and Fy(0) sespectly, and the same ‘marginal products aie ecioul progress as Fye)and Fé) thon ks? ‘efit ean be summarized ae follows: FAQ) then the echnical progress is Inbou-seving in the > Fr@) Hicks’ classiteation, ‘than tho tachniclprogrss is Hite naa. Fal FAD) then the telwical progress is catalan in the Fel) ~ Fi) Hicks casteaton, lik’ clasieation can be given a simple economic interpretation. We tlrealy know that, m_Gompelitwe condisons, the marginal pode tf eapital equal othe ceatal zat on capital andthe marisa product oF labour is equal to the wage rte (ae Section 2-4(9X0). Thus, abou Saving invention nereaser the ratio 7fw (and, obriously, decreases the ‘wagereatal ratio) while + eapita-saving Invention desresses rv (and Increases w/rj Ap invention thal saves labour apis thal the wage ra lesines relative tothe teal rate of capital which, given that labour is less scarce relive to capital following the invention, is as one would expect 7 cuca! problon immadiately proses isl. Consider Fig. 7.1. The rato of the marginal product of capital to that of lshour i diferent st ‘very point on both cirves. With the whele er-worker production Tune top having shite upwards result of technical progres it e=sary {0 peel ubih patton the new exrve so beeomparod with wish point fon te ld if Hick clasifcation eo be ef ay ute, I for example, tbe ‘aloof the marginal products ut point D on (is compared with the Sm rato at point A of fl) then itis len that aifereatclassiation ‘ill be made than ifthe ate of marginal products at pont B were com- ated wit tho rl tpn A The Hisks’cusiftion is bused upon the comparison of points at which the captl-ltone ro fe constont ke, points A and B (oe Dae E) jn Fig 71, We theroore need (o rephrase our definitions of Hisks-xeutea, Inbote-eving and capital ving tsinkal ropes, Deroaon 7.3.1 ‘An upward shi, repessting technical progress, ia the peraworker ‘raduction function iid to he luring (capital svg) fot ary Conant ale af the captain ratio. the rato ofthe marainl pescuct ‘feuptl fo the marginal product of labour has increased erssed), Darminen 7.3.2 An upward shit, eapreseaing technical progwss, othe perworker feoduton function is td o'ba ickencara fa oy constant value of {he epita-lahour eto, te ratio ofthe marginal produc of capital he ‘margial protuct of atour reat constant "The completo Hicks elassieaion speciied in Defnions 73.1 end 7.3.2 cam easly be tested in terns of the eflet of Wein progress to the relive shares of national income acrung t capil an labour ‘We ve already notes tat Hiks labouring (eapiabsesieg fecha progrssimples hat, competi condition, te rio of the sent ae Dm elt the was rat, peeusng(deresin) sae tht Lek ‘euial technical progr nlc that this ato remine constant. Now, ‘he ratio of relative shares, which we denote ts Th, i equal to rK/wr- For all changes which the eapiiabiabou rato, KL, remains constant ‘tis lear that techincal progress, in alectig rw, wl sstematcally fect. the ratio of relative share, Thu, an skerative way of stating the Hicks classication x simply so texas ofthe elect of techisl progres upon he {tio of lative shares ‘Technial progres esd tobe dour-seing in isk’ vente fat any consiat vale ofthe captal-labour ratio, she Yt of relative shares, = ‘Kil, iaceasing. eM, the tate of change of elatve shares, is positive. ‘Techni progres is sid tobe copia-aving in Hicks” sens fst any constant vale of the capial-abour ratio, sherri of eave shares, T= ‘Kink is decreasing, (iz =) “Technical progre reid to bo Micke neutral fut eny constant value of the capital labour ratio, the varia of relate shares, T= F&[WL, remains constant (11 = 0). "R'veltkoow ciara can be wed to illustrate Hicke-cutal technical progress In Fig. 7, U9 represeas conventional per-worker produc: tion function. Assuma thatthe aeoaomy has capital labour to of Gite this capital labour ratio, tho marginal prodet ofeapal is meaesced by the slope of the tangent RA and the Wageeonal ratio 2 — vir 8 Fig. 73 measured by the distance OR, (See Seston 2.4b}i¥))Itechnea progress ‘causes the petoworker production function to sit upwaeds tory then ‘sks neutrality requires tha, at the eapital labour ratio A the ratio of ‘he marginal product of capital to the marginal product of labo, othe ratio of the renal rata on capital to the wage sate, rx, must remain constant. Thus, « Hicks-neural shit from flog) t0 fi) eaten that the tangent tothe new production funtion a the eaptalfabour rato ‘ast oginate om R such tat thedstance OR (remains he same after the sil These conditions are sen to be satisfied in Fie. 7.3 an the shit fiom C to Din the produetion function therefore represcats Hichs+ seuta technical progres ‘tean be proved (See Uzawa (270) that Hicks-neutalechacl progros in exaryejucen tothe idea of equal capital and labour aementing tecnial progress discussed in Section 7-2 Thus if technical progrest i proceeding ats constant, Hickemeutral, proportional rate m thn the Aggregate production function is identical to that of equation (7.26), ‘Aferatives, the concept of continuous growth introduced in ecto 2.5 gan te ele in mica ths epee prodetonfancton aes he KD oan) Enution (3:1) therefore pects an asset produton faction inch chic peopes it clenetad ands posed nent propoonal mom Wo bv tomestat abou haere intr fom of Hier clacton 0 echaal hang beaue ae eyo bot seemingly dierent, dations employe inthe literature fequcnty ‘conf the safe "Hicks clasifcaton of technical progress was devised specially within the content ofa theory of wages and distsbution—aod in that contest it can be both useful and illuminating. Ii not, however, particularly se Ful within th kings of models of economic growth that we have been iscussng in previous chapters. Conse the simple neocassial model of Chapter 4, Figure 74 ilsraes the result of shit nthe production function caused by techn progress 74 Is Fig 14 kd represent the pet-worker production function before theonset of technical progress. Given the rateof growth ofthe labour free, ‘and the propensity ta save, s, we know (se Proposition 1 of Chapt 4) ‘hat the Intros egal ofthe evonomy nips vel of ute pee ‘worker of»* and aleve of epital per worker of (ie. where ef) = ‘uri If fhe progustion function shite up to fly) 88 cel of tse 2 progres then the ne fong-runequibriam positon for the econo, Si gven by te lovl of epital pr works of kane output per worker of ‘ye% It the economy was ergy on the Selasced-aroweh pat plied by Be then the forces deusied ia Chaptr dare set in motion aa the ‘conomy rave smoothly t the 2 balspead growth path associated ‘with Re®s Fig, 7 Mistrtes a erucal point. If, tho rate of growth {OF the abou fore, andthe propansity Co save, are bath fad constants then any upward shit inthe pe-workat production Function wil always Anda we wie in Seton 74, Hk tcl prose it ot oe imply, ina noosa! mode, a now sable balanced goth path involving higher capital labour ratio and level of output per wotker, Hicks! ‘assiction of technical propre fe rastriced wo the oenpaion points Involving a covstazcapita-labour ratio aed wil therfore not be tal in the context of conventional steady-state moss of economic szowth Harrod’ altesnative dasieaion of wohnicl progress wes devised for ‘sein models ofa sul growing economy an ici to hit schema that (©) Hand's Classincation of Tecnial Progres Sir Roy Harrod introduced the clasifation of technical progess asso ‘lated with is name in a revew article in the Erorome Jour! i 1937 (93) buC itis best known from his discussion in Towards « Dynamic Beonanes (WW) pp.22 8) "dati a noutral advance as one which ata constant rte of iter, doesnot distur th value of the capital eoeficiant and A steam of Inventions, wn ae nucle defined wl provided ha the ate of [terest uchangod Tove the distrbubion ofthe tol national product 'sbecveen labour (ithe beoudest sense) and capital unchanged (1100) pp.) “The capital eeficen is defined as ‘the aio of he value of capital se to income pee perio” ((00)p. 22) io. the expla ovtpyt rao, and i Competitive eondidoas and assuming the absenge of sk, the tate of interest is equal tothe suarpinal product of call. Thus, Harrod-reuen technial progres can be deft os fll, Darrian 7.3.3 ‘Ap upward shift, representing technical progres, in the perworker Production funtion, said to be arrodnnuara i tay conta ale Of the eapaludput rai, to marginal product of capt rin ut hanged, Harod's clasication compares points at which the oma! ‘xpi tio constant as opposed tothe Hicks procedure which compares Psat whieh the eapital-tabour sai is constant, complete sstment ‘F the Harrod cassicatin is mast easly accomplished Oy taking up the ‘Suggestion ieludd in the sceond passage quoted above aad investiating theefletuponthereltivesharesnnationl income eecruingtocapital nd labour as technical progres proceeds "Nove har ano sot peat cage ob ton Te f te unten or nowy sean by eh aes {ote capil eon ihe ae of sere eon [10 2 Ea [eto th toden pacer of Gostning net hen fo hee oe igen ouput car ean tea. 13, TMECLASSIICATION OF TECHWEAL PROGRESS. 165 Dario 7.3.4 ‘Technia progress sid toe labour-saving (cpialsavin) in Haxra's seas if, at any constant valve ofthe eapial-output rao, the rato of ‘elite shares, 1 — rKiw, increasing (Seoeasng), Ls it, is Sone tant and fl > 0 ten techcal progress s Harrod laboursaving- I R/T ‘sconstit and Ml <0 then occa progres ie Harrod capil ving Dernarion 7.3.5 ‘Technical proses is sid wo be Hartod-neural if, at any constant value of the capialoutput ratio, the ratio of relative sharon Il — rind, ramains cnet, Gc Il = O when KY is constant) ‘Thus, both the Hicks and Hartod method of closing tech pro- ‘rot canbe reduced toa study of the effect upon the relative sary of production functions are compared—Harrod’s method bing applic {6 the comparison of pants wih equal captal-outpu ratios wile Hicks system applicable tothe comparison of points with equal espa labour ‘A Terod-neural shit jn the persworker produetion funtion can be asi lostated a ia Fig, 7.5, Js Fig, 75 7k) eepetnte a convetional per-workee production function pier othe onset of thal progres the economy is tally ‘operating ta captal-about ratio oqul to k* we hnow (se Sesion 45()) atthe capisl-outpt ratio i equa othe inverse otha slope off lng WD Ginee slope oFOBD = BLNDK* — ye YL = AIL ke and th margin product of capitals egual to the dope ofthe tangy MM atthe point B on fk). Technical progress now ahs thereat Production function tothe ew postion fl) I the sft isto be Harrod eutral wo condtions must be Satsied the marginal product of capital must remain te same as that even by the slope ofthe agent Maa (@) the captel-output rato must Ye equal to that detecmined by the slope ofthe ine OBZ. ‘These conditions can be sen toe satis in the movement from the point B, wit capital-labour rato of othe pot D, with capa oboe tall of k**, in Fig 73. At the point D, the eaptal-output es even by the inverse ofthe slope of OBZ and is therefore caus tothe een ‘put ratio whe point B. The marginal product of capital a post Dis eal to te slore of the tangent MM and, ance this tangent aca {0 the angant MIM at point B equal tthe marginal prosuct of etal A point Thus, the shift tom pont Bo point Bin ig, 7S vem n arrodseusraltecnical progres, For the thf in the whole cutee te sonerated by Harna/-neutal technical progres itis nessun that tee marginal produc of capital remains conta whatever the constant sakes ofthe captal-output sti (Le iven the invese ef the slpe af any ne tom the oian trough the orsinal and post echnical propre men tion tunedin, Jn 198, Mes Joan Robinson, in reponse fo Harrods orginal formula tion hisclassieatry sere damonrtrated™ geometrically tet Hernos ‘beutral technical progress xatlyequvalat to what we have called puely labouraugmentng technical progis (we Seeion 72), In bay ew oe 's evtal invention in Mr Harry sense has the same eft as an ‘tease in the supply of labour, ands ten to beet toon slloundintease inthe eficiency of labour (20) a0), Thus, if techacal progress is Hacrocneutal and i proceeding ata eon stant proportional rae, m, then he aggregate preducton fenton wy ty Y= AK.BOD) 932) © We ona prove his rope, Ms abit’ sent! spot is Peet ta if an ety chal ee a ie cape wth lay) = m 7, ulzing th concept of coniauous growth Y= A®em) (One result of Mes Robinson's theorem is that Harod-neutral testa Progress, ecnste of its equivalence wih an increase ia the lsbowr too 's pariuerly cay to incorporate in the models of prouth thet we ‘eamied a Chapters 3-6 leis interesting note a form of the technology whichis consistent with both Hicks and Harrod-netiral echnical progress, Consider Fis 7. cod 7.8 In Fig. 73, &* is the iaitialeaptal-bour ratio and! Hicke-soural technial progzest maintains the distribution of income constant atthe tee ofthe capital-labour ratio. Is Fig, 7.8, assume hack tet Seadystote cpita-Labour rai, (wth ples that th line OBZ bas slope equal to n/s—sbe Section 43), Hatrod-yuttal technical pomes ‘implies thatthe distibution of incom remains constant at a Loreeck capital-output ratio wich, as can be son in Fig. 7, involves & Meher Steady-state capial-lubour ratio of &* I Hicks and Harrod nous ‘are tobe eguivlet ii cles tat the dntbution of ingore mt Be the Same at every lel ofthe eapta-labour ratio, We demons the ns til ete the eesicity of subsition (362405) herve copia ‘ator is equal to oity. The ratio of ative shaces canbe writen te Mp. k whore = rfand k — KE 4f both A the rato of te ental rat of capital tothe wags ea, and the capital-labour rato, are growing thea its clear that IT wil ering, Wiring the rates of growth as AE, pip and > (where A nea, sin Chapter 2, an ineement ia?) then all 4p _ak T IF relative shares are to remain constant II must egual ze and a Ati socenenouanas onli aig mrtg 5.

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