Kaldor's 1970 Regional Growth Model Revisited

7 Pages Posted: 26 Jul 2014

See all articles by A. P. Thirlwall

A. P. Thirlwall

University of Kent - Canterbury Campus

Date Written: September 2014

Abstract

Kaldor's 1970 paper ‘The Case for Regional Policies’ was republished in the 60th anniversary volume of the Scottish Journal of Political Economy. This article reflects on the model after more than 40 years, and argues that although it has been criticized for its deterministic nature, it has lost none of its relevance. It predates the ideas of so‐called ‘new’ growth theory, and the new economic geography of Krugman, and provides at least a partial explanation of why growth rates and levels of per capita income between regions and between countries can continue to persist and even widen in contrast to the predictions of orthodox equilibrium theory.

Suggested Citation

Thirlwall, A. P., Kaldor's 1970 Regional Growth Model Revisited (September 2014). Scottish Journal of Political Economy, Vol. 61, Issue 4, pp. 341-347, 2014, Available at SSRN: https://ssrn.com/abstract=2472487 or http://dx.doi.org/10.1111/sjpe.12048

A. P. Thirlwall (Contact Author)

University of Kent - Canterbury Campus ( email )

Keynes College
Canterbury, Kent CT2 7NP
United Kingdom

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