Description
Book SynopsisThis book provides an analytical and computational approach to solving and simulating the Mahalanobis model and the papers surrounding it. The book comes up, perhaps for the first time, with a holistic examination of an important growth model that emerged out of India in the 1950s. It contains detailed derivations of the Mahalanobis model and the several critiques and extensions surrounding it with an organized synthesis of the main results. Computationally, the book simulates the model and its many variants, thus making it accessible to a wider audience. Advanced undergraduates and beginning graduate students in the fields of Economics, Mathematics, and Statistics will gain immensely from understanding both the mathematical aspects as well as the computational aspects of the Mahalanobis model. In the absence of a single 'go-to' source on all aspects of the model -- analytical and computational -- this book is a definitive volume on the Mahalanobis model that has all the derivations of all the papers surrounding the model, its dissents and critiques, and extensions as in the wage goods model suggested by Vakil and Brahmananda.
Trade Review“The book The Mahalanobis Growth Model: A Macrodynamics Approach by Ghate, Gopalakrishnan, and Grover (G3) is a labor of love, a fitting intellectual tribute to PCM’s growth models, which too were labors of love designed to concretize ideals of development planning for India’s Five-Year Plans. … Indian economics undergraduates will read this book, work through the math, digest the economic intuition, and come away with a sense of awe for PCM. They will come to appreciate … .” (Joydeep Bhattacharya, Indian Economic Review, Vol. 58 (1), 2023)
Table of ContentsChapter 1: Overview of the 2 Sector Mahalanobis Model
- Simulations in Matlab
Chapter 2: Critiques of the 2 Sector Mahalanobis Model
- The Bronfenbrenner Critique
- The Ezekiel Critique
- The Bettelheim Critique
- The JBS Haldane Critique
- The Raj and Sen Model
- Simulations in Matlab
Chapter 3: A Stochastic Version of the 2 Sector Mahalanobis Model
- Outline of the Model
- Simulations in Matlab
Chapter 4: Open Economy Extensions of the 2-sector Mahalanobis Model
- The Harris Model
- The Ezekiel Model
- Simulations in Matlab
Chapter 5: Overview of the 4 Sector Mahalanobis Model
- Simulations in Matlab
Chapter 6: Critiques of the 4 Sector Mahalanobis Model
- The Komiya Critique
- Observations by Tsuru
- The Shenoy Dissent
- Simulations in Matlab
Chapter 7: The Wage Good Model
- An Analytical Framework – The Brahmananda and Vakil Model – by MJ Manohar Rao
- Simulations in Matlab
