Premium
Staple theory and export‐led growth: constructing differential growth
Author(s) -
Altman Morris
Publication year - 2003
Publication title -
australian economic history review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.493
H-Index - 16
eISSN - 1467-8446
pISSN - 0004-8992
DOI - 10.1046/j.1467-8446.2003.00053.x
Subject(s) - growth theory , economics , neoclassical economics , mainstream , development theory , historiography , odds , simple (philosophy) , positive economics , macroeconomics , economic growth , mathematics , political science , epistemology , law , philosophy , statistics , logistic regression
The staple theory is a subset of the export‐led growth hypothesis, designed to explain the growth and economic development of resource‐rich economies. It is a theory that has been misunderstood and is seen to be at odds with the stylised facts of economic growth and development as well as with mainstream neoclassical wisdom. This article presents a brief and critical historiography of the staple theory from which a simple model of staple growth and development is gleaned. As well, data are presented which suggest that staple theory remains an important analytical tool to help explain economic development and growth.