ON THE CAUSES OF ECONOMIC GROWTH

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On The Causes Of Economic Growth

Author : Carlos Sabillon
ISBN : 9780875865904
Genre : Business & Economics
File Size : 83.63 MB
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In a sweeping review of economic history, the author presents the salient facts of booms and slowdowns in the major economies of the world, in 50-year intervals and demonstrates the weakness of orthodox theories. The only factor that consistently causes growth, he shows, is centralized support for manufacturing, which spurs the creation of new technologies, which lead to wealth creation. Since the earliest of times, human beings have endeavored to uncover the causes of prosperity. Step by step, Sabillon tests the principal theories on the causes of economic growth against the facts of history. Here, economic statistics of the world are presented in a rationalized format that allows for comparison across countries and through time, with a challenge to those who study them to determine, with an open mind, what the statistics show and what are the trends -- beyond cherished theories that suit various political purposes. Tested against the historical data, textbook ideas and theories consistently come up short. Such analyses are highly troubling because they reveal an absence of correlation between theory and reality. The data, statistics illustrating the development of the world economy during the last several centuries, were extracted from economic, history and economic history books, from publications of the World Bank, the Organization for Economic Cooperation and Development, the International Monetary Fund, the World Trade Organization, the United Nations specialized agencies, research institutes and country statistical publications, and other books and journals. Analyzing the data over geography and time, Sabillon concludes that contrary to contemporary wisdom, left to market forces alone the economy will not and does not flourish. Only decisive intervention in support of manufacturing and technological advancement can provide growth. This systematic review of history and test of accepted dogma challenges economic theorists to consider one part of the equation of economic policy that has been wiped off the blackboard in today s politically-correct debates.
Category: Business & Economics

The Causes Of Economic Growth

Author : Rick Szostak
ISBN : 3540922822
Genre : Business & Economics
File Size : 48.55 MB
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What are the causes of economic growth? As billions of people still live in poverty, this is perhaps the most important question in human science. It is also a very complex one, as rates of economic growth are influenced by a multitude of economic as well as political, geographical and sociological factors. This books attempts to advance a nuanced understanding of the process of economic growth by synthesizing the insights of several social science disciplines. Different theories and methods employed by economists and other social scientists to study the causes of economic growth are analyzed and it is shown how and why those insights should be integrated by applying best-practice techniques of interdisciplinary analysis. Scholars and practitioners are thus provided with a wide array of potential strategies for encouraging growth as well as guidance on how these strategies may interact.
Category: Business & Economics

Economic Growth

Author : Edward A. Hudson
ISBN : 1622730313
Genre : Business & Economics
File Size : 57.14 MB
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We wish to understand how economic growth works. We start with the history of economic performance over the past 2000 years, working out which countries have enjoyed sustained growth and how they did it. We look at the effects of growth - the good, the bad and the risks - and how the bads can be managed and most of the risks mitigated. Then we pull all the growth mechanisms together so as to extend the conventional theory of economic growth, to explain the causes as well as the results of growth.The extended theory focuses on markets and industries; it shows how new products pull the economy along a continuing growth path. Demand features - product design, marketing, credit and the consumer society - are central to this process. At the same time, supply expansion, from investment and productivity gains, sustains the growing demand as well as increases incomes. In the right conditions, demand and supply come together to generate continuing growth.
Category: Business & Economics

A Research On China S Economic Growth Potential

Author : Chong-en Bai
ISBN : 9781351621748
Genre : Business & Economics
File Size : 52.90 MB
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After impressive growth of about 10% per annum for three decades, China's visible signs of economic slowdown since 2008 have been subject to much contention. What causes the deceleration? What should we expect in an era of China's 6% growth? This book answers these questions in three parts. Although it is widely accepted that China can hardly continue its high-speed growth model, estimations for its future growth potential differ greatly. The first part of this book predicts China's growth to 2050, which considers both cross-country historical experiences and China's own demographic structure and employment participation features. In the second part, the book offers a comprehensive estimation of China's national and provincial total factor productivity (TFP) over the period of 1978 to 2014 based on comparable data. It then analyzes the causes of China's economic slowdown from a productivity point of view. Finally, this book correspondingly outlines policy recommendations, including supply-side structural reform and macroeconomic policy frameworks, to effectively address the issue of decline in both labor and labor productivity growth. This book will attract scholars and students of economics and China's economic studies.
Category: Business & Economics

Introduction To Modern Economic Growth

Author : Daron Acemoglu
ISBN : 9781400835775
Genre : Business & Economics
File Size : 30.80 MB
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Introduction to Modern Economic Growth is a groundbreaking text from one of today's leading economists. Daron Acemoglu gives graduate students not only the tools to analyze growth and related macroeconomic problems, but also the broad perspective needed to apply those tools to the big-picture questions of growth and divergence. And he introduces the economic and mathematical foundations of modern growth theory and macroeconomics in a rigorous but easy to follow manner. After covering the necessary background on dynamic general equilibrium and dynamic optimization, the book presents the basic workhorse models of growth and takes students to the frontier areas of growth theory, including models of human capital, endogenous technological change, technology transfer, international trade, economic development, and political economy. The book integrates these theories with data and shows how theoretical approaches can lead to better perspectives on the fundamental causes of economic growth and the wealth of nations. Innovative and authoritative, this book is likely to shape how economic growth is taught and learned for years to come. Introduces all the foundations for understanding economic growth and dynamic macroeconomic analysis Focuses on the big-picture questions of economic growth Provides mathematical foundations Presents dynamic general equilibrium Covers models such as basic Solow, neoclassical growth, and overlapping generations, as well as models of endogenous technology and international linkages Addresses frontier research areas such as international linkages, international trade, political economy, and economic development and structural change An accompanying Student Solutions Manual containing the answers to selected exercises is available (978-0-691-14163-3/$24.95). See: http://press.princeton.edu/titles/8970.html. For Professors only: To access a complete solutions manual online, email us at: [email protected]
Category: Business & Economics

Sharp Instrument A Stab At Identifying The Causes Of Economic Growth

Author : Reda Cherif
ISBN : 9781484358061
Genre : Business & Economics
File Size : 56.70 MB
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We shed new light on the determinants of growth by tackling the blunt and weak instrument problems in the empirical growth literature. As an instrument for each endogenous variable, we propose average values of the same variable in neighboring countries. This method has the advantage of producing variable-specific and time-varying—namely, “sharp”—and strong instruments. We find that export sophistication is the only robust determinant of growth among standard growth determinants such as human capital, trade, financial development, and institutions. Our results suggest that other growth determinants may be important to the extent they help improve export sophistication.
Category: Business & Economics

Economic Growth And Development

Author : Matthew McCartney
ISBN : 9781137290311
Genre : Political Science
File Size : 68.45 MB
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This wide-ranging text introduces the causes of economic growth and stagnation across countries. It combines consideration of proximate causes as well as systemic factors, and provides the historical context and theoretical background to aid understanding of international disparities.
Category: Political Science

Uneven Economic Development

Author : Jose Antonio Ocampo
ISBN : 184813195X
Genre : Business & Economics
File Size : 81.94 MB
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Inequality in the world is high and rising. The problem of global uneven development is central to, and inseparable from, the international development agenda. This book examines the causes and implications of international economic divergences. It also reviews economic growth and structural change patterns since the 1960s
Category: Business & Economics