Estimating the surplus in the periphery: an application to Turkey

Date

2003-11-01

Author

Somel, C

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This note discusses how the economic surplus concept can be used to analyse the constraints the world system imposes on economic development. An estimation of the surplus for Turkey for 1980-96 utilises Kohler's unequal exchange analysis to measure the transfer of surplus abroad and the official minimum wage to calculate essential private consumption. The estimation yields the allocation of the surplus between nonessential consumption, investment and unrequited transfers abroad. The note assesses Lippit's argument that the main obstacle to development is the misuse of the surplus in the domestic economy and not transfers abroad.

Subject Keywords

Economics and Econometrics

URI

https://hdl.handle.net/11511/63744

Journal

CAMBRIDGE JOURNAL OF ECONOMICS

DOI

https://doi.org/10.1093/cje/27.6.919

Collections

Department of Economics, Article

Citation Formats

C. Somel, “Estimating the surplus in the periphery: an application to Turkey,” CAMBRIDGE JOURNAL OF ECONOMICS, vol. 27, no. 6, pp. 919–933, 2003, Accessed: 00, 2020. [Online]. Available: https://hdl.handle.net/11511/63744.