A. D Y N A M IC M E T H O D O L O G Y Sir Roy Harrod is, without much dispute, the first economist to consider the analysis of economic growth as requiring dynamic concepts of a very unique nature. The Harrod conception of dynamism was initially formulated in a 1934 paper, ‘The Expansion of Credit in an Advancing Economy’, where Harrod states that ‘It is an enquiry into the relation between the rates of increase in a regularly advancing society . . .’.1