Stability of the mobile-capital Harris-Todaro model: some further results
A necessary and sufficient condition for stability is derived for the mobile-capital Harris-Todaro model of rural-to-urban migration in developing countries when land is a scarce factor in agriculture. The stability condition when land is ignored - that the urban sector (comprising manufacturing ind...
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| Format: | Journal article |
| Language: | English |
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Blackwell Publishing
1988
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| _version_ | 1797091336196718592 |
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| author | Neary, J |
| author2 | The London School of Economics and Political Science |
| author_facet | The London School of Economics and Political Science Neary, J |
| author_sort | Neary, J |
| collection | OXFORD |
| description | A necessary and sufficient condition for stability is derived for the mobile-capital Harris-Todaro model of rural-to-urban migration in developing countries when land is a scarce factor in agriculture. The stability condition when land is ignored - that the urban sector (comprising manufacturing industry and the urban unemployed) be more capital abundant - is no longer either necessary or sufficient for stability. Nevertheless, this condition always enhances stability and it is sufficient (though not necessary) for stability in many circumstances (e.g. when land is separable in production from labour and capital). Intuitive explanations of these conditions are provided. |
| first_indexed | 2024-03-07T03:31:31Z |
| format | Journal article |
| id | oxford-uuid:bae72a84-da32-42c6-91ba-ef9f3d07ff00 |
| institution | University of Oxford |
| language | English |
| last_indexed | 2024-03-07T03:31:31Z |
| publishDate | 1988 |
| publisher | Blackwell Publishing |
| record_format | dspace |
| spelling | oxford-uuid:bae72a84-da32-42c6-91ba-ef9f3d07ff002022-03-27T05:12:59ZStability of the mobile-capital Harris-Todaro model: some further resultsJournal articlehttp://purl.org/coar/resource_type/c_dcae04bcuuid:bae72a84-da32-42c6-91ba-ef9f3d07ff00EconomicsEnglishOxford University Research Archive - ValetBlackwell Publishing1988Neary, JThe London School of Economics and Political ScienceThe Suntory and Toyota International Centres for Economics and Related DisciplinesA necessary and sufficient condition for stability is derived for the mobile-capital Harris-Todaro model of rural-to-urban migration in developing countries when land is a scarce factor in agriculture. The stability condition when land is ignored - that the urban sector (comprising manufacturing industry and the urban unemployed) be more capital abundant - is no longer either necessary or sufficient for stability. Nevertheless, this condition always enhances stability and it is sufficient (though not necessary) for stability in many circumstances (e.g. when land is separable in production from labour and capital). Intuitive explanations of these conditions are provided. |
| spellingShingle | Economics Neary, J Stability of the mobile-capital Harris-Todaro model: some further results |
| title | Stability of the mobile-capital Harris-Todaro model: some further results |
| title_full | Stability of the mobile-capital Harris-Todaro model: some further results |
| title_fullStr | Stability of the mobile-capital Harris-Todaro model: some further results |
| title_full_unstemmed | Stability of the mobile-capital Harris-Todaro model: some further results |
| title_short | Stability of the mobile-capital Harris-Todaro model: some further results |
| title_sort | stability of the mobile capital harris todaro model some further results |
| topic | Economics |
| work_keys_str_mv | AT nearyj stabilityofthemobilecapitalharristodaromodelsomefurtherresults |