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Imported capital goods and the income adjustment process in small open economies

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dc.contributor.advisor Torr, Christopher
dc.contributor.author Hawkins, Penelope Anne. en
dc.date.accessioned 2015-01-23T04:24:46Z
dc.date.available 2015-01-23T04:24:46Z
dc.date.issued 1995-06 en
dc.identifier.citation Hawkins, Penelope Anne. (1995) Imported capital goods and the income adjustment process in small open economies, University of South Africa, Pretoria, <http://hdl.handle.net/10500/16919> en
dc.identifier.uri http://hdl.handle.net/10500/16919
dc.description.abstract The principle of effective demand states that given endogenous expenditure patterns, the level of exogenous expenditure determines the level of employment. If investment represents the sole form of exogenous expenditure, employment adjusts to the level of investment. If exogenous expenditure changes, equilibrium is restored via the equilibrating variable, employment. If employment is linked in a unique way to income, we have what is referred to as the income adjustment process. The income adjustment process is investigated in a closed and a small open economy (SOE) which imports consumption and capital goods. If a SOE imports its capital goods, the causal link between investment and employment is weakened. When capital goods are imported, investment adjusts to the balance of payments and animal spirits are constrained. Certain South African data are analysed within the framework of the income adjustment process.
dc.format.extent 1 online resource (iv, 169 pages) en
dc.language.iso en
dc.subject Income adjustment
dc.subject Principle of effective demand
dc.subject Small open economy
dc.subject Exogenous expenditure
dc.subject Imported capital goods
dc.subject Animal spirits
dc.subject Balance of payments
dc.subject.ddc 339.210968 en
dc.subject.lcsh Income maintenance programs en
dc.subject.lcsh States en
dc.title Imported capital goods and the income adjustment process in small open economies en
dc.type Dissertation
dc.description.degree M.A.(Economics) en


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