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Early Keynesian models of economic growth in the context of the problems of modern emerging markets

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Guanxu Wen, M. Likhachev,  (Moscow Pedagogical State University)

Series "Economics and Law" # 06  2018
The article considers the structure of Early Keynesian models of economic growth, in particular, the models of R. Harrod and E. Domar. These models emphasize the internal instability of growth processes and the need for government intervention to ensure a stable economic growth. The authors of the article consider the internal logic and theoretical conclusions of these models in relation to the problems of modern countries with emerging markets. Economic growth in developing countries has its own specifics, which should be taken into account in the framework of theoretical models of economic growth. The authors of the article make the conclusion that early Keynesian models of economic growth adequately reflect the most important characteristics of the processes of economic growth in developing countries.

Keywords: economic growth, Keynesianism, Keynesian growth models, the Model R. Harrod and E. Domar, emerging markets.


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©  Guanxu Wen, M. Likhachev, Journal "Modern science: actual problems of theory and practice".



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