Harrod under analysis: path-dependence, historic time and endogenous structural change

Vol. 31 No. 4 (2011)

Oct-Dec / 2011
Published October 1, 2011
PDF-Portuguese (Português (Brasil))
PDF-Portuguese (Português (Brasil))

How to Cite

Moreira, Ricardo Ramalhete. 2011. “Harrod under Analysis: Path-Dependence, Historic Time and Endogenous Structural Change”. Brazilian Journal of Political Economy 31 (4):638-58. https://centrodeeconomiapolitica.org/repojs/index.php/journal/article/view/425.

Harrod under analysis: path-dependence, historic time and endogenous structural change

Ricardo Ramalhete Moreira
Professor no Programa de Pós-Graduação em Economia da Universidade Federal do Espírito Santo (UFES).
Brazilian Journal of Political Economy, Vol. 31 No. 4 (2011), Oct-Dec / 2011, Pages 638-658

Abstract

The article aims to demonstrate how the Harrod’s approach (1937, 1938, 1948) can offer theoretical elements to form a complex, historicists and non-determinist view of the economic system. The relaxation of the constant warranty rate hypothesis make possible the system suffers endogenous qualitative change. It results in the notion of path-dependence and historic time. By the endogenization of the expectations and the existence of turn-points mechanisms, this approach allows a synthesis between non-convergency and economic regulation.

JEL Classification: B1; E3; O4.


Keywords: Harrod instability regulation path-dependence