Economic growth and development
This textbook by Hendrik Van den Berg on Economic Growth and Development presents a long-awaited synthesis of Development Economics and Growth Theory. It also incorporates the recent contributions to our understanding of economic growth from the fields of economic history and the new institutional economics. By basing its analysis on the recent advances in growth theory, the book offers a unified approach to all episodes of economic growth for countries at all levels of development and throughout history. Students will be comfortable with an analysis that enables them to understand economic growth in their own country as well as in economies very different from their own. The unified theoretical framework greatly facilitates students understanding of the process of economic growth, and the many cases and examples highlight the fascinating diversity of our world.
Friendly and Accessible: the text is written in a very friendly tone that facilitates undergraduate students understanding of the complexities of growth models. It is written to stimulate student interest in the very exciting field of economic growth. While remaining un-intimidating, the book challenges students to think and use state of the art economic analysis to interpret the economic development of the worlds diverse economies.
Cases and Real-World Examples: there are many interesting cases and examples from recent and distant history in order to emphasize the generality of the analytical framework developed in the text. Case studies are spread throughout the text in order to keep the theoretical analysis closely related to the real world.
Intuitive and Effective Topic Coverage and Sequencing: the text follows a very obvious progression of chapters based on the development of growth theory and the key variables in those models. Individual chapters cover the topics of population growth, saving and investment, financial markets and intermediaries, technological progress, and education. There are two chapters that detail the role of institutions for the process of economic growth. The relationship between economic growth and globalization is detailed in two chapters, one on international trade, the other on international investment. This careful selection of topics and the order it is presented will make it easier for students to learn.
Makes the Material Relevant to Students: the story of economic growth is made relevant to students in the United States because the common theoretical framework permits them to focus on growth as a process common to many different economies.
Mathematical Reviews: There are step by step reviews of basic mathematical and statistical concepts; the intuition of all mathematical and graphic models is always explained in very friendly language in order to make the exciting recent growth models easily accessible to all students.
Very Current Research Made Accessible: the more difficult models of economic growth, such as Paul Romers R&D model and the Cass-Koopmans-Ramsay version of the Solow model, are presented verbally and very intuitively in the main text; the more mathematical, but still reader-friendly, description is provided in Appendixes.
Strong pedagogy: there is an extended guide to Internet sites related to Economic Growth and Development at the end of Chapter One, which students can refer to for the remainder of the course. End of Chapter Questions focus on the critical issues of each chapter. A Glossary of important terms and concepts is provided.
There are two chapters that explicitly deal with the negatives of economic growth, including the costs of economic change, the distributional effects of change, and the environmental effects of increasing numbers of people consuming greater amounts of products.
Website: (www.mhhe.com/vandenberg): there is a course website, where both students and instructors can find up-to-date data, interactive problems and examples, and continuously updated suggestions for supplemental readings and case studies.
2 Economic Growth Throughout History<>
Case Study: 2-1 Economic Miracle and Economic Disasters, 1820 to the Present
Case Study: 2-2 The Relationship between Output Growth and Health
Case Study: 2-3 How the Former Indian Caste System Still Restricts Economic Freedom
3 The Evolution of Growth Models: From Adam Smith to Harrod-Domar
Case Study: 3-1 Money in the Early Dutch Economy
Case Study: 3-2 Corporate Conglomerates and Creative Destruction
4 Solows Neoclassical Growth Model
Case Study 4-1 Using the Cobb-Douglas Function to Apply the Solow Model to Thailand
Case Study: 4-2 The Asian Economic Miracle
Case Study: 4-3 The Soviet Union and the Solow Model
5 How Well Does Solows Model Explain Economic Growth?
Case Study: 5-1 Denisons Estimate of the Sources of Economic Growth
Case Study: 5-2 Singapore and Productivity
Case Study: 5-3 The Myth of the African Economic Catastrophe
6 Technological Progress
Case Study: 6-1 Electricity and Manufacturing
Case Study: 6-2 The History of the Computer
Case Study: 6-3 Equipment Investment and Technological Progress
Case Study: 6-4 The Liberty Ship Program
Case Study: 6-5 Land-grant Universities and Agricultural Extension Programs
Case Study: 6-6 Finding the Right Combinations in Peru
7 Economic Growth and Population Growth
Case Study: 7-1 Technological Progress and Family Size in India
Case Study: 7-2 Forced Birth Control in China
8 Savings, Financial Markets, and Economic Growth
Case Study: 8-1 Is Saving Too High in Korea?
Case Study: 8-2 The Failure to Enforce Contracts in Equatorial Guinea
Case Study: 8-3 Successful Contract Enforcement in Taiwan
Case Study: 8-4 How the Grameen Bank of Bangladesh Monitors Borrowers
Case Study: 8-5 Lending to the Poor in Peru
9 Globalization and Economic Growth
Case Study: 9-1 Enclaves, Maquiladoras, and Spilovers
Case Study: 9-2 The Chilean Automobile Industry
10 Education, Human Capital, and Growth
Case Study: 10-1 Vicious Cycles of Growth
Case Study: 10-2 Child Labor
11 Institutions and Economic Growth
Case Study: 11-1 Reducing Transaction Costs with Internet Auctions
Case Study: 11-2 Traditions, Customs, and Entrepreneurship
Case Study: 11-3 The Ejido and Rural Property Rights in Mexico
Case Study: 11-4 The Clash of Cultures and Exploitation
12 Government Institutions and Economic Growth
Case Study: 12-1 The Comparative Advantage of Government
Case Study: 12-2 China, Economic Growth, and Democracy?
13 Why Would Anyone Be Against Economic Growth?
Case Study: 13-1 Preventing Failure in Germany
Case Study: 13-2 Parallels between Growth and International Trade
Case Study: 13-3 The Distribution of Income throughout History
14 Are There Limits to Growth?
Case Study: 14-1 When Will We Run Out of Oil?
Case Study: 14-2 Using Rationing Rather than Prices to Prevent Pollution
15 The Future of Economic Growth
Case Study: 15-1 Koreas Inadvertent Experiment in Institutional Change