ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

A+| A| A-

Concept of a Turning Point in Long-Run Growth

This paper is a critique of Lloyd Reynolds generalisation of the process of economic growth in the third world. Reynolds argues that this growth is characterised by a sharp turning point which sets off a self-sustaining process of growth of per capita income in marked contrast to the earlier period of relative stagnation. The turning point is brought about by a rising foreign trade ratio and a major political change. The author investigates the validity of this approach with reference to the economic history of Brazil and India.

Dear reader,

To continue reading, become a subscriber.

Explore our attractive subscription offers.

Click here


(-) Hide

EPW looks forward to your comments. Please note that comments are moderated as per our comments policy. They may take some time to appear. A comment, if suitable, may be selected for publication in the Letters pages of EPW.

Back to Top