The role of capital-labour substitution in economic growth Mallick, Debdulal 2012, The role of capital-labour substitution in economic growth, Indian growth and development review, vol. 5, no. 1, pp. 89-101, doi: 10.1108/17538251211224150. Attached Files Name Description MIMEType Size Downloads Title The role of capital-labour substitution in economic growth Author(s) Mallick, Debdulal Journal name Indian growth and development review Volume number 5 Issue number 1 Start page 89 End page 101 Total pages 13 Publisher Emerald Group Publishing Limited Place of publication Bingley, England Publication date 2012 ISSN 1753-8254 Keyword(s) Economic growth CES production function elasticity of substitution labour capital Summary Purpose – Although the importance of the elasticity of substitution between capital and labour (s) has been recognized in many areas in economics, this parameter has not received enough attention in economic growth. The purpose of this paper is to review the recent development in the importance of s in economic growth. Design/methodology/approach – This paper specifically reviews the possibility of perpetual growth and slowdown, and the asymptotic behaviour of the balanced growth path for different values of s. It also reviews the determinants of the aggregate s. Findings – Based on the empirical evidence that the value of s significantly departs from the Cobb-Douglas value of unity, the paper recommends employing the constant elasticity of substitution (CES) production function in both theoretical and empirical growth research. Originality/value – This paper offers a new perspective on the elasticity of substitution between capital and labour due to its evaluation of various factors, methods and approaches. Language eng DOI 10.1108/17538251211224150 Field of Research 140202 Economic Development and Growth Socio Economic Objective 910103 Economic Growth HERDC Research category C1 Refereed article in a scholarly journal Copyright notice ©2012, Emerald Group Publishing Limited Persistent URL http://hdl.handle.net/10536/DRO/DU:30046085 Document type: Journal Article Collections: Faculty of Business and Law School of Accounting, Economics and Finance Related Links Link Description Connect to published version (restricted access) Go to link with your DU access privileges     Unless expressly stated otherwise, the copyright for items in DRO is owned by the author, with all rights reserved. Versions Version Filter Type Mon, 09 Jul 2012, 12:04:14 EST Mon, 09 Jul 2012, 12:04:54 EST Mon, 09 Jul 2012, 14:15:49 EST Mon, 09 Jul 2012, 14:17:05 EST Mon, 09 Jul 2012, 14:43:15 EST Fri, 03 Aug 2012, 11:57:05 EST Fri, 03 Aug 2012, 11:58:40 EST Filtered Full Citation counts:   Cited 0 times in TR Web of Science Cited 0 times in Scopus Search Google Scholar Access Statistics: 449 Abstract Views, 2 File Downloads  -  Detailed Statistics Created: Mon, 09 Jul 2012, 12:04:13 EST by Aysun Alpyurek

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