Principles of Economic Growth
This is a concise and reader-friendly introduction to the principles of economic
growth for students of economics and business. Gylfason examines theoretical and
empirical models of economic growth through examples and case studies drawn from
around the world and through a trenchant analysis of classic thought in this area.
The influence of public policy on economic efficiency and growth is a key theme which
underpins this textbook's engagement with issues such as liberalization, stabilization,
privatization, and unemployment, as well as technology, education, natural resources,
and geography. Economic growth is one of the most exciting areas of recent research
and debate in the fields of business and economics, and this text, complete with
end-of-chapter summaries and review questions, provides an ideal introduction to
the topic.
Readership: Ideal for undergraduate students of macroeconomic principles, open economy macroeconomics, business and managerial economics, and international business. These are major courses on economics and business studies degrees. In addition, 'economic growth' has been one of the most exciting areas in economics in recent years, and this means that the text will receive a great deal of academic interest. |
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1. Growing Apart
Burma and Thailand
Botswana, Nigeria, and Ghana
Uruguay, Argentina, and Spain
Madagascar and Mauritius
Roots and branches
Quantity and quality
The importance of being efficient
Reforms and growth
2. Roots and Branches
The first revolution: Adam Smith
Adam Smith's followers
Enter mathematics: Harrod and Domar
The second revolution: The neoclassical model
The third revolution: Endogenous growth
Summary
3. Quantity and Quality
Endogenous growth and technology
Endogenous growth accounting
The level of income per head with endogenous growth
The neoclassical model again
How strong? How long?
Exogenous growth illustrated
How much to save
Optimal growth in figures
Summary
4. The Importance of Being Efficient
Growing together? Or growing apart?
Absolute vs. conditional convergence
Poverty traps
Case 1: Liberalization
Case 2: Stabilization
Case 3: Privatization
Case 4: Education, health, and distribution
Case 5: Natural resources and geography
Summary
5. Reforms and Growth
Unemployment and growth
Some obstacles to reforms and growth
In conclusion
Appendices
2.1 The Harrod-Domar Model
2.2 The Solow Model: Exogenous Growth
2.3 Endogenous Growth
3.1 More on Endogenous Growth
3.2 More on Exogenous Growth
3.3 Optimal Saving and Growth
4.1 Liberalization, Efficiency, and Growth
4.2 Stabilization, Efficiency, and Growth
4.3 Privatization, Efficiency, and Growth
4.4 Education, Taxes, and Growth
References
Cast of characters
Name and place index
Subject index
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