Is the natural rate of growth exogenous?A comment

Luciano Boggio, Gilberto Seravalli


The authors comment  a recent paper (Leon-Ledesma and Thirlwall 2000 – from now on LLT) in which an interesting issue is raised concerning the notion of the natural rate of growth, first proposed by Sir Roy Harrod (1939).


JEL Codes: O41, O47



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HARROD, R. (1939), An essay in dynamic theory, Economic Journal, March, pp. 14-33.

LEON-LEDESMA, M. and A.P. THIRLWALL (2000), Is the natural rate of growth exogenous?, Banca Nazionale del Lavoro Quarterly Review, December, pp. 433-45.


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