CAPITAL FOP.MATION IN PEASANT ECONOMIES

The role of capital formation in the process of economic development has been critically appraised by economists and policy-makers. 1 Identifying sources of capital and regulating the rate of capital growth are essential tasks of economic planning in developing nations. Economic growth models, particularly two-sector models, have been developed to describe the process of economic transformation with domestic savings and investment as the key driving forces in achieving a successful growth path. The analytical abstractness of two-sector models, however, does not provide a very accurate portrayal of peasant economic behavior, particularly savings and investment decisions. This weakness has prompted several writers to call for a more comprehensive approach in analyzing the structure of and advocating policy for developing nations. 2


Issue Date:
1977
Publication Type:
Conference Paper/ Presentation
PURL Identifier:
http://purl.umn.edu/190976
Page range:
259-270
Total Pages:
12




 Record created 2017-04-01, last modified 2017-08-28

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