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Economic Growth and Development

A Dynamic Dual Economy Approach

Author(s):
Publisher:

Springer

Pages: 272
Further Actions:

Recommend to library

AVAILABLE FORMATS

Paperback - 9783319357959

12 October 2016

$89.99

In stock

Ebook - 9783319142654

12 January 2015

$69.99

In stock

All prices are shown excluding Tax

Growth theory provides a rich and versatile analytical framework through which fundamental questions about economic development can be examined. This book is an introduction to the newer features of growth theory that...

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Growth theory provides a rich and versatile analytical framework through which fundamental questions about economic development can be examined. This book is an introduction to the newer features of growth theory that are particularly useful in examining the issues of economic development. Structural transformation, in which developing countries transition from traditional production in largely rural areas to modern production in largely urban areas, is an important causal force in creating early economic growth, and as such, is made central in this approach. Towards this end, the authors augment the Solow model to include endogenous theories of saving, fertility, human capital, institutional arrangements, and policy formation, creating a single two-sector model of structural transformation. Based on applied research and practical experiences in macroeconomic development, the model in this book presents a more rigorous, quantifiable, and explicitly dynamic dual economy approach to development. Common microeconomic foundations and notation are used throughout, with each chapter building on the previous material in a continuous flow. With its single model and focus on data and policy analysis, this text is intended for beginning graduate students and policy makers interested in economic development.

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Develops dynamic two-sector models to explain sector differences in productivity, wages, hours worked, fertility, and saving rates, and how structural transformation impacts economic growth

Augments the Solow model to include endogenous theories of saving, fertility, human capital, institutional arrangements, and policy formation

Provides end-of-chapter questions to solidify main points for less advanced students and model-based problems for more advanced students

Overview
Part I. Introduction to Economic Growth
Neoclassical Growth Theory
Extensions to Neoclassical Growth Theory
Two Sector
Growth Models
Part II. Dual Economies
Wage and Fertility Gaps in Dual Economies
Physical Capital in Dual Economies
A Complete Dual
Economy
Urbanization
Conclusion.

“This textbook summarizes several decades of research on macroeconomics of development – or, at least, a large part of it. … Detailed exposition, questions for review and end-of-chapter exercises, and an extensive bibliography make this textbook an excellent learning and reference source for those working or aspiring to work in these institutions or for the national governments and think tanks.” (Nigar Hashimzade, Mathematical Reviews, June, 2017)
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