On the Dynamics of Growth and Debt

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Clarendon Press, 1991 - Business & Economics - 220 pages
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The strong rise in public debt has been one of the main concerns for economic policy in the recent period. This book provides a theoretical analysis of the dynamics of public debt. It analyses the impact of accumulating debt on the stability of the economy, and examines the implications ofseveral alternative budgetary regimes. In contrast to most analyses of the dynamics of government finance, which start from the neo-classical equilibrium approach, this analysis is inspired by the post-Keynesian theory of disequilibrium growth. It develops a coherent microeconomic model of the growth of the firm in the presence ofimperfect capital markets and equity rationing. On the basis of this model the medium-term and long-term dynamics are examined with special reference to the accumulation of public debt and the distribution of income and wealth within the private sector.

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Contents

Finance Risk and the Growth of the Firm
47
Some Extensions
71
The Keynesian Corridor
95
Copyright

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About the author (1991)

Casper van Ewijk, Associate Professor, Department of Macroeconomics, University of Amsterdam.

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