The verification of efficient growth: An approach via stojanovi?'s matrix of growth

It is well known that empirically implemented, full capacity, dynamic input-output models may indicate that economies are both highly efficient and causally indeterminate. If such is the case, only extrapolations of observed efficient cases can be interpreted economically in projective studies. We point out that multisector' modelling based on Stojanovic's matrix of growth poses similar problems. In fact, only matrices for observed efficient growth cases are consistent with fixed-coefficient projection models. Because of the flexibility of the approach, however, consequences for applied work seem less serious than in the input-output cases.