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Author : Philippe Aghion
Publisher : MIT Press
Page : 720 pages
File Size : 12,14 MB
Release : 1998
Category : Business & Economics
ISBN : 9780262011662
"Problems and solutions by Cecilia Garcâia-Peänalosa in collaboration with Jan Boone, Chol-Won Li, and Lucy White." Includes bibliographical references (p. [665]-687) and index.
Author : Ramesh Chandra
Publisher : Springer Nature
Page : 336 pages
File Size : 11,69 MB
Release : 2021-11-24
Category : Business & Economics
ISBN : 3030837610
In recent decades, new endogenous growth theory has become popular but the ideas are not new. They go back at least as far as Adam Smith, and the subsequent contributions made notably by Alfred Marshall and Allyn Young. This book critically discusses and provides an historical perspective to the entire spectrum of endogenous growth theories starting with Adam Smith and ending with Paul Romer. It fills an important gap in the literature. While contributions of individual authors are readily available, there is no comprehensive study on the subject covering such a vast ground, critically discussing these authors in a comprehensive framework. It collates all the arguments and economic viewpoints in one collection, providing both the seasoned economist and a graduate economist with a critical comparison of origin, mechanisms, conclusions, and policy implications of these models.
Author : Philippe Aghion
Publisher : MIT Press
Page : 519 pages
File Size : 13,3 MB
Release : 2024-09-17
Category : Business & Economics
ISBN : 0262553104
A comprehensive, rigorous, and up-to-date introduction to growth economics that presents all the major growth paradigms and shows how they can be used to analyze the growth process and growth policy design. This comprehensive introduction to economic growth presents the main facts and puzzles about growth, proposes simple methods and models needed to explain these facts, acquaints the reader with the most recent theoretical and empirical developments, and provides tools with which to analyze policy design. The treatment of growth theory is fully accessible to students with a background no more advanced than elementary calculus and probability theory; the reader need not master all the subtleties of dynamic programming and stochastic processes to learn what is essential about such issues as cross-country convergence, the effects of financial development on growth, and the consequences of globalization. The book, which grew out of courses taught by the authors at Harvard and Brown universities, can be used both by advanced undergraduate and graduate students, and as a reference for professional economists in government or international financial organizations. The Economics of Growth first presents the main growth paradigms: the neoclassical model, the AK model, Romer's product variety model, and the Schumpeterian model. The text then builds on the main paradigms to shed light on the dynamic process of growth and development, discussing such topics as club convergence, directed technical change, the transition from Malthusian stagnation to sustained growth, general purpose technologies, and the recent debate over institutions versus human capital as the primary factor in cross-country income differences. Finally, the book focuses on growth policies—analyzing the effects of liberalizing market competition and entry, education policy, trade liberalization, environmental and resource constraints, and stabilization policy—and the methodology of growth policy design. All chapters include literature reviews and problem sets. An appendix covers basic concepts of econometrics.
Author : Oded Galor
Publisher : Princeton University Press
Page : 344 pages
File Size : 46,29 MB
Release : 2011-04-11
Category : Business & Economics
ISBN : 140083886X
For most of the vast span of human history, economic growth was all but nonexistent. Then, about two centuries ago, some nations began to emerge from this epoch of economic stagnation, experiencing sustained economic growth that led to significant increases in standards of living and profoundly altered the level and distribution of wealth, population, education, and health across the globe. The question ever since has been--why? This is the first book to put forward a unified theory of economic growth that accounts for the entire growth process, from the dawn of civilization to today. Oded Galor, who founded the field of unified growth theory, identifies the historical and prehistorical forces behind the differential transition timing from stagnation to growth and the emergence of income disparity around the world. Galor shows how the interaction between technological progress and population ultimately raised the importance of education in coping with the rapidly changing technological environment, brought about significant reduction in fertility rates, and enabled some economies to devote greater resources toward a steady increase in per capita income, paving the way for sustained economic growth. Presents a unified theory of economic growth from the dawn of civilization to today Explains the worldwide disparities in living standards and population we see today Provides a comprehensive overview of the three phases of the development process Analyzes the Malthusian theory and its empirical support Examines theories of demographic transition and their empirical significance Explores the interaction between economic development and human evolution
Author : David N. Weil
Publisher : Prentice Hall
Page : 556 pages
File Size : 40,15 MB
Release : 2012-06-29
Category : Business & Economics
ISBN : 9780321795731
Why are some countries rich and others poor? David N. Weil, one of the top researchers in economic growth, introduces students to the latest theoretical tools, data, and insights underlying this pivotal question. By showing how empirical data relate to new and old theoretical ideas, Economic Growth provides readers with a complete introduction to the discipline and the latest research.
Author : Fabrizio Coricelli
Publisher : Palgrave Macmillan
Page : 312 pages
File Size : 35,3 MB
Release : 1998-03-15
Category : Business & Economics
ISBN : 9780312176211
This collection offers a stimulating and insightful overview of the main issues affecting long-term economic growth. The novelty of this book is that it brings together two strands of economic literature, growth and development theories. The communication between different approaches is crucial as it is increasingly understood that growth hinges upon institutional and policy aspects that are generally neglected in the stylized models of growth but highly relevant for developing countries. Government policies and institution design become central to the explanation of divergent growth paths.
Author : Takatoshi Ito
Publisher : University of Chicago Press
Page : 324 pages
File Size : 48,62 MB
Release : 2007-12-01
Category : Political Science
ISBN : 0226386988
The contributors to this volume analyze the growth experiences of Japan, Korea, China, Hong Kong, Singapore, and Taiwan in light of the recently developed endogenous growth theory to provide an understanding of the economic boom in East Asia. The theory explored in this volume attributes the phenomenal economic success of these countries to, among other factors, the role of an outward orientation—a focus on exporting rather than on protecting home markets. In addition, the importance of exchange rate behavior, of the supportive role of government policy, and of the accumulation and promotion of physical and human capital are explored in detail. This collection also examines the extent to which growth in each country became self-sustaining once it began. Demonstrating the relevance of endogenous growth theory for studying this important region, this fourth volume in the NBER-East Asia Seminar on Economics series will be of interest to observers of East Asian affairs.
Author : Alfonso Novales
Publisher : Springer Science & Business Media
Page : 543 pages
File Size : 17,84 MB
Release : 2008-10-20
Category : Business & Economics
ISBN : 354068669X
This is a book on deterministic and stochastic Growth Theory and the computational methods needed to produce numerical solutions. Exogenous and endogenous growth models are thoroughly reviewed. Special attention is paid to the use of these models for fiscal and monetary policy analysis. Modern Business Cycle Theory, the New Keynesian Macroeconomics, the class of Dynamic Stochastic General Equilibrium models, can be all considered as special cases of models of economic growth, and they can be analyzed by the theoretical and numerical procedures provided in the textbook. Analytical discussions are presented in full detail. The book is self contained and it is designed so that the student advances in the theoretical and the computational issues in parallel. EXCEL and Matlab files are provided on an accompanying website to illustrate theoretical results as well as to simulate the effects of economic policy interventions.
Author : Börje Johansson
Publisher : Springer Science & Business Media
Page : 431 pages
File Size : 44,72 MB
Release : 2012-12-06
Category : Business & Economics
ISBN : 3642595707
During the last two decades a new growth theory has emerged - often labelled "endogenous economic growth". The contributions in the book develop these advances into a theoretical framework for endogenous regional economic growth and explain the implications for regional economic policies in the perspective of the new century. Endogenous growth models can reflect increasing returns and hence refer more adequately to empirical observations than earlier models, and the models become policy relevant, because in endogenous growth models policy matters. Such policies comprise efforts to stimulate the growth of knowledge intensity of the labour supply and knowledge production in the form of R&D.
Author : Daniel Shore
Publisher : Freegulls Publishing House
Page : 28 pages
File Size : 17,80 MB
Release :
Category : Business & Economics
ISBN :
Growth theory is a branch of economics that seeks to understand the mechanisms behind sustained economic growth and development. It emerged in response to the question of why some countries experience rapid and sustained increases in per capita income over time while others do not. One of the foundational models in growth theory is the Solow-Swan model, developed by Robert Solow and Trevor Swan in the 1950s. This model highlights the role of capital accumulation, labor force growth, and technological progress in driving economic growth. According to the Solow-Swan model, economies converge to a steady state level of output per capita, where the rate of growth is determined by exogenous factors such as technological progress. However, the Solow-Swan model faced criticisms for not adequately explaining the sources of technological progress and the role of human capital. This led to the development of endogenous growth theory, pioneered by economists like Paul Romer. Endogenous growth theory emphasizes the importance of factors such as research and development, human capital accumulation, and knowledge spillovers in driving long-term economic growth.