On The Dynamics Of Economic Growth
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On The Dynamics Of Economic Growth
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Author : Mr.Michael Sarel
language : en
Publisher: International Monetary Fund
Release Date : 1994-11-01
On The Dynamics Of Economic Growth written by Mr.Michael Sarel and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994-11-01 with Business & Economics categories.
This paper examines the dynamics of economic growth. First, it demonstrates that the standard neoclassical growth model with constant elasticity of intertemporal substitution is not consistent with the patterns of development we observe in the real world, once we consider the initial conditions. Second, it examines an alternative growth model, which is consistent with endogenously determined initial conditions and also generates dynamics that are in accord with the historical patterns of growth rates, capital flows, savings rates and labor supply. The alternative model is a generalized version of the neoclassical growth model, with increasing rates of intertemporal substitution due to a Stone-Geary type of utility.
Dynamics In Economic Growth And International Trade
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Author : Bernhard Felderer
language : en
Publisher:
Release Date : 2003
Dynamics In Economic Growth And International Trade written by Bernhard Felderer and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with categories.
The Dynamics Of Economic Growth
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Author : Vu Minh Khuong
language : en
Publisher: Edward Elgar Publishing
Release Date : 2013-11-29
The Dynamics Of Economic Growth written by Vu Minh Khuong and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-11-29 with Business & Economics categories.
The advancement of a nation from poverty to prosperity is not a technical process but a great transformation. At the center of this change are two driving forces _ emotion, which is referred to as aspiration, anxiety, and sense of responsibility; and e
The Divergent Dynamics Of Economic Growth
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Author : Richard H. Day
language : en
Publisher: Cambridge University Press
Release Date : 2003-11-13
The Divergent Dynamics Of Economic Growth written by Richard H. Day and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-11-13 with Business & Economics categories.
This book explains how changing technology and economizing behaviour induce vast changes in productivity, resource allocation, labour utilization, and patterns of living. Economic growth is seen as a process by which businesses, regimes, countries, and the whole world pass through distinct epochs, each one emerging from its predecessor, each one creating the conditions for its successor. Viewed from a long-run perspective, growth must be characterized as an explosive process, marked by turbulent transitions in social and political life as societies adapt to new opportunities, the demise of old ways of living, and to the vast increase and redistribution of human populations. The book is based on a synthesis of classical economics and contemporary concepts of adaptation and economic evolution. Although it is based on analytical methods, the text has been stripped of all equations and with few exceptions is devoid of technical jargon.
On The Dynamics Of Economic Growth
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Author : Michael Sarel
language : en
Publisher:
Release Date : 2006
On The Dynamics Of Economic Growth written by Michael Sarel and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006 with categories.
This paper examines the dynamics of economic growth. First, it demonstrates that the standard neoclassical growth model with constant elasticity of intertemporal substitution is not consistent with the patterns of development we observe in the real world, once we consider the initial conditions. Second, it examines an alternative growth model, which is consistent with endogenously determined initial conditions and also generates dynamics that are in accord with the historical patterns of growth rates, capital flows, savings rates and labor supply. The alternative model is a generalized version of the neoclassical growth model, with increasing rates of intertemporal substitution due to a Stone-Geary type of utility.
Structural Dynamics And Economic Growth
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Author : Richard Arena
language : en
Publisher: Cambridge University Press
Release Date : 2012-05-03
Structural Dynamics And Economic Growth written by Richard Arena and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-05-03 with Business & Economics categories.
Ever since Adam Smith, economists have been preoccupied with the puzzle of economic growth. The standard mainstream models of economic growth were and often still are based either on assumptions of diminishing returns on capital with technological innovation or on endogenous dynamics combined with a corresponding technological and institutional setting. An alternative model of economic growth emerged from the Cambridge School of Keynesian economists in the 1950s and 1960s. This model - developed mainly by Luigi Pasinetti - emphasizes the importance of demand, human learning and the growth dynamics of industrial systems. Finally, in the past decade, new mainstream models have emerged incorporating technology or demand-based structural change and extending the notion of balanced growth. This collection of essays reassesses Pasinetti's theory of structural dynamics in the context of these recent developments, with contributions from economists writing in both the mainstream and the Cambridge Keynesian traditions and including Luigi Pasinetti, William Baumol, Geoffrey Harcourt and Nobel laureate Robert Solow.
Dynamics Economic Growth And International Trade
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Author : Bjarne Sloth Jensen
language : en
Publisher: University of Michigan Press
Release Date : 2010-03-11
Dynamics Economic Growth And International Trade written by Bjarne Sloth Jensen and has been published by University of Michigan Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-03-11 with Business & Economics categories.
While endogenous growth theory has claimed success in modeling various factors of growth and providing an analysis of sustainable economic growth, most of the growth models in published work are for closed economies. The omission of international trade, which is often regarded as the engine of growth, greatly reduces their usefulness. The theory of international trade, on the other hand, is characterized by models that are mainly static. While interest in the dynamics of trade has been growing, there is still little work in this area. The success of the newly industrialized economies that have adopted trade-oriented policies suggests how limited present trade theory is in explaining and analyzing the growth of these economies. The work collected here serves to bridge the "old" growth theory and "new" growth theory; merge growth and trade theory; suggest new analysis and techniques of economic growth; and provide analysis of new issues related to growth and trade. The first chapter surveys endogenous growth and international trade and critically reviews the endogenous growth theory with a unified framework, covering the work on both closed and open economies. Three chapters examine the dynamics of some basic trade models; two chapters focus on growth and trade with endogenous accumulation of human and public capital; two chapters on economic growth, technological progress, and international trade; and two chapters on growth and international factor movements. Contributors include Eric W. Bond, Theo S. Eicher, Rolf Färe, Oded Galor, Shawna Grosskopf, Bjarne S. Jensen, Pantelis Kalaitzidakis, Shoukang Lin, Ngo Van Long, Kazuo Nishimura, Koji Shimomura, Kathleen Trask, Stephen J. Turnovsky, Pham Hoang Van, Henry Wan, Jr., Chunyan Wang, and Kar-yiu Wong. Bjarne S. Jensen is Associate Professor of Economics, Copenhagen Business School. Kar-yiu Wong is Professor of Economics, University of Washington, Seattle.
Economic Growth And Macroeconomic Dynamics
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Author : Steve Dowrick
language : en
Publisher: Cambridge University Press
Release Date : 2008-01-07
Economic Growth And Macroeconomic Dynamics written by Steve Dowrick and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-01-07 with Business & Economics categories.
This book brings together contributions in growth theory and macroeconomic dynamics that reflect more recent developments in the ongoing debate over the relative merits of neoclassical and endogenous growth models. It focuses on three important areas that have been receiving increasing attention: theoretical aspects, numerical and statistical aspects, and international issues.
Economic Dynamics
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Author : Wei-Bin Zhang
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Economic Dynamics written by Wei-Bin Zhang and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
The theory of economic development is a branch of economic dynamics. Any discussion of the theory must involve dynamics even though not all dynamic problems are necessarily related to economic development. The theory's primary locus is upon the nice paths of economic variables. Stationary states, which have been the main concern of modem economic development theory, are actually special cases of economic dynamics. In this study, we propose an economic development theory within the framework of input-output systems and neoclassical economics. No political problems will be dealt with, although this does not mean that questions such as why Japan had a higher growth rate than China in the past are not important. Similarly, rather than dealing with the psychological and institutional aspects of in economic development processes we only suggest ways (or methods, as Hicks would call them) for analyzing what determines economic development from the point of view of "pure" economics. Our main contribution to economic growth theory is that we investigate various nonlinear dynamic phenomena such as bifurcations and economic cycles. We emphasize that oscillations and structural changes are not rare but universal in a progressive economy. No economic system can be stabilized forever if change is permitted.
Economic Growth And Development
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Author : Sibabrata Das
language : en
Publisher: Springer
Release Date : 2018-08-16
Economic Growth And Development written by Sibabrata Das and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-08-16 with Business & Economics categories.
This text is an introduction to the newer features of growth theory that are particularly useful in examining the issues of economic development. Growth theory provides a rich and versatile analytical framework through which fundamental questions about economic development can be examined. Structural transformation, in which developing countries transition from traditional production in largely rural areas to modern production in largely urban areas, is an important causal force in creating early economic growth, and as such, is made central in this approach. Towards this end, the authors augment the Solow model to include endogenous theories of saving, fertility, human capital, institutional arrangements, and policy formation, creating a single two-sector model of structural transformation. Based on applied research and practical experiences in macroeconomic development, the model in this book presents a more rigorous, quantifiable, and explicitly dynamic dual economy approach to development. Common microeconomic foundations and notation are used throughout, with each chapter building on the previous material in a continuous flow. Revised and updated to include more exercises for guided self study, as well as a technical appendix covering required mathematical topics beyond calculus, the second edition is appropriate for both upper undergraduate and graduate students studying development economics and macroeconomics.