The Nature of Economic Growth: An Alternative Framework for Understanding the Performance of Nations
"The author presents conventional wisdom with a critical eye and charts development economics as it has evolved from Adam Smith to 'new' or endogenous growth theory. Thirlwall is critical of the latter, and its predecessor neo-classical growt
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actual growth rate agriculture Allyn Young balance of payments capita income capital accumulation capital inflows capital-output ratio cent Chapter constraints on demand convergence currency demand constraints demand for exports developing countries differences between countries diminishing returns divergence Economic Growth economists elasticity of demand employment endogenous growth theory equation equilibrium growth estimated exogenous factors of production grow faster growth and development growth of capital growth of exports growth of manufacturing growth of output growth rate differences Harrod implies imports income elasticity increasing returns industrial investment ratio Keynes living standards manufacturing output McCombie natural rate neoclassical growth theory Nicholas Kaldor output growth payments constrained payments equilibrium production function productiv productivity growth productivity of capital progress function rate of growth relative price returns to capital returns to scale rise savings ratio sector supply surplus labour Thirlwall variables Verdoorn's Law wages warranted growth rate warranted rate world economy
The New Economy and Macroeconomic Stability: A Neo-modern Perspective ...
Teodoro Dario Togati
No preview available - 2006