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Author: Ewald Nowotny
Publisher: Edward Elgar Publishing
ISBN: 1782548173
Category : Business & Economics
Languages : en
Pages : 259
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Book Description
This book will prove a thought-provoking read for academics, researchers and students in the fields of economics _ particularly international economics _ and finance, money and banking. Policy-makers and economists interested in European integration an
Author: Ewald Nowotny
Publisher: Edward Elgar Publishing
ISBN: 1782548173
Category : Business & Economics
Languages : en
Pages : 259
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Book Description
This book will prove a thought-provoking read for academics, researchers and students in the fields of economics _ particularly international economics _ and finance, money and banking. Policy-makers and economists interested in European integration an
Author: Klaus Wälde
Publisher: Springer Science & Business Media
ISBN: 364250034X
Category : Business & Economics
Languages : en
Pages : 160
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Book Description
1. Introduction and overview Until still few years ago, economic growth theory (going back to Solow, 1956; for an introduction cf. Burmeister and Dobell, 1970) predicted convergence of both growth rates and level of per capita income of economies which share identical preferences, technologies and same population growth rates, independently of initial conditions. Countries with a low capital stock grow faster than those with a higher capital stock, until, in the long-run, they all converge to a common constant growth rate. This prediction is due to the way how growth is "explained" in models of this kind. Growth of output per capita resulted, in the simplest model, from an exogenous growth oflabour productivity (see e. g. Sala-i-Martin, 1990; Grossman and Helpman, 1991a, ch. 2). Si!1ce this increase of productivity is exogenously given, the model itselfdoes not give any explanation ofits source. The prediction ofconvergence ofgrowth rates, itself, is very doubtful and observations show, that on an international level either convergence is not given at all, or that it takes a very long time. The literature of the "new" theory of growth provides a rich variety of models whose theoretical implications range from divergence to convergence and thus offers much better working tools in order to analyze real world observations. These models (starting with Romer, 1986 and Lucas, 1988) explain growth of GNP or per capita income from within the model by includingexternal effects such as a public stock ofknowledge capital (e. g.
Author: Thorsten Pampel
Publisher:
ISBN:
Category :
Languages : en
Pages : 20
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Book Description
Author: Michael Spence
Publisher: Macmillan + ORM
ISBN: 1429968710
Category : Business & Economics
Languages : en
Pages : 316
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Book Description
A Washington Post Notable Nonfiction Book for 2011 With the British Industrial Revolution, part of the world's population started to experience extraordinary economic growth—leading to enormous gaps in wealth and living standards between the industrialized West and the rest of the world. This pattern of divergence reversed after World War II, and now we are midway through a century of high and accelerating growth in the developing world and a new convergence with the advanced countries—a trend that is set to reshape the world. Michael Spence, winner of the Nobel Prize in Economic Sciences, explains what happened to cause this dramatic shift in the prospects of the five billion people who live in developing countries. The growth rates are extraordinary, and continuing them presents unprecedented challenges in governance, international coordination, and ecological sustainability. The implications for those living in the advanced countries are great but little understood. Spence clearly and boldly describes what's at stake for all of us as he looks ahead to how the global economy will develop over the next fifty years. The Next Convergence is certain to spark a heated debate how best to move forward in the post-crisis period and reset the balance between national and international economic interests, and short-term fixes and long-term sustainability.
Author: Clifford L. F. Attfield
Publisher:
ISBN:
Category : Convergence (Economics)
Languages : en
Pages : 9
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Book Description
Author: Jess Benhabib
Publisher:
ISBN:
Category : Economic development
Languages : en
Pages : 78
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Book Description
Author: Thomas Steger
Publisher: Springer Science & Business Media
ISBN: 3642457843
Category : Business & Economics
Languages : en
Pages : 161
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Book Description
Four stylised facts of aggregate economic growth are set up initially. The growth process is interpreted to represent transitional dynamics rather than balanced-growth equilibria. Against this background, the fundamental importance of subsistence consumption is comprehensively analysed. Subsequently, the meaning of the productive-consumption hypothesis for the intertemporal consumption trade-off and the growth process is investigated. Finally, the process of growth is analysed empirically by means of cross-sectional conditional convergence regressions with endogenous control variables.
Author: E. Soukiazis
Publisher: Springer
ISBN: 1137023953
Category : Business & Economics
Languages : en
Pages : 457
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Book Description
This book extends Thirlwall's model and adapts its implications to the current problems facing developed and emerging economies. In this context, this book combines theoretical models and empirical applications, unveiling new results and highlighting the importance of the balance of payments as a constraint to growth.
Author: Salvador Ortigueira
Publisher:
ISBN:
Category : Convergence
Languages : en
Pages : 42
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Book Description
Author: L. A. Finley
Publisher: Nova Publishers
ISBN: 9781594545689
Category : Business & Economics
Languages : en
Pages : 302
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Book Description
Considering the new possibilities offered by endogenous growth models and the improvement of data information, new variables have been introduced in the analysis of economic growth. But in spite of this important effort to develop a wider and more complete perspective of economic growth process, other kinds of relations and factors must be included. And this is the main goal of this book. In the next chapters, authors analyse a set of variables or factors that the new perspective of the economic growth must include and the canonical models don't consider. The goal is to show that there are not only quantitative but also qualitative variables and factors that are growth enhancing. Traditionally, for instance, literature has studied the effects of income distribution on growth, but it does not consider environmental constraints in the process. Or it is important to consider the effects of social capital not just physical capital or human capital on the economic growth process. The role of the institutions is very important in this area. Therefore, the authors determine the effects of these variables on economic growth process and show new possibilities to the policy makers in the design of their economic policies.
