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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The Nature of Economic Growth: An Alternative Framework for Understanding ... A. P. Thirlwall No preview available - 2003 |
Common terms and phrases
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 diminishing returns divergence ductivity Economic Growth economists elasticity of demand employment endogenous growth theory equation equilibrium growth estimated 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 incremental capital-output ratio industrial Keynes living standards manufacturing output McCombie natural rate neoclassical growth theory Nicholas Kaldor output growth output per head payments constrained payments equilibrium production function productiv productivity growth productivity of capital progress function rate of growth relative price returns activities returns to capital returns to scale rise savings ratio savings-investment ratio sector supply Thirlwall variables Verdoorn's Law wages warranted growth rate warranted rate world economy
References to this book
The New Economy and Macroeconomic Stability: A Neo-modern Perspective ... Teodoro Dario Togati No preview available - 2006 |