Summary
With some exceptions — e.g., Tobin and Johnson — theorists have been looking for an explanation of economic growth in the real sector. This is the first of three successive papers on the problem of to what extent monetary phenomena influence the real variables in a process of economic growth.
If one aims at adding a monetary sector to a real model of economic growth, the first thing to do is getting an exposition of the monetary theory which is most suitable for this purpose. The monetary theory used in this paper is based on Patinkin and Gurley and Shaw. The conditions under which money does not affect the real economic process are amply discussed. Only in very special cases money turns out to be neutral.
In the two subsequent papers this monetary theory is used for an investigation into the impact of money on growth according to a neo-classical and a neo-keynesian model of economic growth.
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De schrijvers zijn dank verschuldigd aan talrijke leden van de wetenschappelijke staf van de Economische Faculteit te Groningen en aan de deelnemers van een economistenconferentie te Tilburg op 12 januari 1968 voor hun stimulerende opmerkingen bij de oorspronkelijke versie van dit werkstuk.
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de Haan, H., Kuipers, S.K. Een onderzoek naar de invloed van monetaire factoren op het reële groeiproces in enkele traditionele theorieen van economische groei (I). De Economist 117, 139–160 (1969). https://doi.org/10.1007/BF01858849
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DOI: https://doi.org/10.1007/BF01858849