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Application of David Butt's Theory of Growth to the Problem of Investment Allocation *
Author(s) -
SUNDRUM R. M.
Publication year - 1978
Publication title -
economic record
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.365
H-Index - 42
eISSN - 1475-4932
pISSN - 0013-0249
DOI - 10.1111/j.1475-4932.1978.tb00318.x
Subject(s) - investment (military) , economics , doctrine , growth theory , mathematical economics , process (computing) , microeconomics , neoclassical economics , computer science , law , political science , politics , operating system
David Butt's multi‐sectoral long‐term theory of growth is summarized in mathematical terms and applied to the problem of allocating investment to many sectors, especially by modifying Nurkse's Balanced Growth doctrine to take account of changes in relative prices that occur during the growth process. The case of mechanization of the food sector is discussed in some detail.