If this assumption for some reason appears implausible, the reader is
advised to concentrate on the period 1969-84: here, the statistical series are
The estimates in the tables are made by using data from the National
Income and Product Accounts for the period 1969-84; for the period 1962-68
data from the Annual Abstract of Statistics is used in most cases. Data on
sectoral wage payments for 1962-69 can be found in National Income and
Product, 1970; for 1970-73 in National Income and Product, 1981, and for 1974-84 in National Income and Product, 1984. These data have been
complemented by data from the following sources: Jamaika:
Länderkurzberichte, 1973, Wiesbaden, FRG: Statistische Bundesamt, pp.17-18
(employment); Statistical Abstract, 1974-82, Section II, Kingston: Statistical
Institute (employment); International Financial Statistics, Yearbook, 1986, Washington, DC: International Monetary Fund, pp. 416-417 (gross investment
and implicit GDP deflator); Report on the Labour Force, 1972, Kingston: Department of Statistics, 1973 (employment); Consumer Price Indices, various
issues, Kingston: Statistical Institute (price indices).
Finally, all data on agricultural magnitudes have been deflated to urban
price levels using price indices in the mentioned Consumer Price Indices.
For additional details, see
Danielson ( 1993, Chs. 4-6).
Wyn Owen ( 1966) notes that the agricultural sector is exposed to a "double
developmental squeeze" during socialist as well as during capitalist development. The
squeeze, which is a combination of income redistribution and production transfer, is--
during socialist development--attained by using various extraction methods, such as
taxes, fees and outright confiscation. Capitalist development has, according to Owen,
displayed a similar pattern, since the combination of competition and rapid technical
change in agriculture implies, first, continuous resource reallocation away from
agriculture and, second, deteriorating terms of trade for agriculture. A further
discussion of Owen's ideas can be found in Chapter 4.
Lewis ( 1944) is a critique of the Economic Policy Committee's plan; Lewis
( 1950a) and ( 1950b) are, respectively, an analysis of the Puerto Rican experience and
an analysis of the prospects for industrialisation in the British West Indies. Further
details are provided by Jefferson ( 1971).
That is, that self-sustained growth requires an increase of the savings ratio from
below 5 percent to over 10 percent.
Due to lack of reliable data for many poor countries, available estimates of
savings functions are of varying quality. See, however, Mikesell and
Zinser ( 1973) who
survey the available material and find the marginal propensity to save to be positive in
most cases. A word of warning is issued by Snyder ( 1974, 140) according to whom the
average propensity to save "is particularly erratic in developing countries, many of