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Optimization issues of sectoral outputs in economic output

Batsukh Yondonjamts and Batsaikhan Nyamdash

MPRA Paper from University Library of Munich, Germany

Abstract: The traditional methodology uses the real GDP growth as a proxy for the economic growth. Unfortunately this way of calculating economic growth is not taking into account of the sector inequality in the economy (especially in the economy with high degree of natural resource dependency). Therefore, this paper proposes the new approach to optimize the share of sector outputs in the economy which take into account of the inequality.

Keywords: economic output; elasticity; sector output (search for similar items in EconPapers)
JEL-codes: E40 E47 O1 O11 O2 O21 (search for similar items in EconPapers)
Date: 2014-04-30
New Economics Papers: this item is included in nep-gro and nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:55669

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