Titlebook: Income Distribution, Market Imperfections and Capital Accumulation in a Developing Economy; Asim K. Dasgupta Book 2018 The Editor(s) (if a

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nderdeveloped economy.Focuses on the significance of politic.The book explains the problem of insufficient capital accumulation and growth in a less developed country. In conventional analyses, such explanations are often found exogenised in terms of factors such as socio-cultural attitudes towards

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Significance of the Distribution of Income and Structure of Credit Market,erfect credit market. It is shown that the two crucial issues—equalisation of income and perfection of the rural credit market—are essentially interconnected. It is therefore not possible to lessen this imperfection without improving the equality-content of distribution of income.

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Behaviour of the System over Time,t is found that given an unequal distribution of income and wealth, and related imperfection of credit market, such agriculture can show a tendency to approach a state of zero rate of capital accumulation under certain plausible conditions, and this can be accompanied by a process of immiseration of family farms.

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Generalisations,de about the agricultural sector itself and (b) the ones made about the relationship between the agricultural and the industrial sector. It is shown that even after these generalisations, most of the important conclusions of the basic model remain unimpaired.

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https://doi.org/10.1007/978-981-13-1633-3Income Distribution; Market Impecfections; Capital Accumulations; Developing Economies; Economic Growth

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Different Ways of Resolving the Crisis,Several ways of resolving this problem of inadequate capital accumulation in a developing economy are discussed, including especially the solution that is offered by technical progress as well as land reforms. But here again, it is found that even this technical progress–based solution also depends on the nature of initial distribution of income.

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Some Other Results in the Literature,In this chapter, conclusions of the model presented here are compared with other results in the literature, particularly where the issues of income distribution have been considered.