An Analysis Of Robert E Lucas Jrs Why Doesnt Capital Flow From Rich To Poor Countries

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An Analysis of Robert E. Lucas Jr.'s Why Doesn't Capital Flow from Rich to Poor Countries?

Author : Pádraig Belton
Publisher : CRC Press
ISBN 13 : 1351353608
Total Pages : 118 pages
Book Rating : 4.3/5 (513 download)

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Book Synopsis An Analysis of Robert E. Lucas Jr.'s Why Doesn't Capital Flow from Rich to Poor Countries? by : Pádraig Belton

Download or read book An Analysis of Robert E. Lucas Jr.'s Why Doesn't Capital Flow from Rich to Poor Countries? written by Pádraig Belton and published by CRC Press. This book was released on 2017-07-05 with total page 118 pages. Available in PDF, EPUB and Kindle. Book excerpt: Robert Lucas is known among economists as one of the most influential macroeconomists of recent times – a reputation founded in no small part on the critical thinking skills displayed in his seminal 1990 paper ‘Why Doesn’t Capital Flow from Rich to Poor Countries?’ Lucas’s paper tackles a puzzle in economic theory that has since come to be known as the ‘Lucas paradox,’ and it deploys the author’s brilliant problem solving skills to explain why such an apparent paradox in fact makes sense. Classical economic theory makes a simple prediction of how capital flows between countries: it should, it states, flow from rich to poor countries, because of the law of diminishing returns on capital. Since poor countries have so little capital invested in them, the returns on new investment should be proportionally far better than investment in rich countries. This should mean that investors seeking new opportunities will invest in poorer countries, making capital consistently flow from rich nations to poorer ones. But, problematically, this is not in fact the case. Having defined the problem, Lucas did what any good problem solver would: he looked critically at the criteria involved, and offered a series of possible solutions. Indeed, in just six pages, he puts forward four hypotheses to explain the paradox’s existence. The popularity of his paper, and the influence it has had, are also greatly magnified by careful reasoning embodied in Lucas’s marshalling of evidence and his explanations of the judgements he has made.

Why Doesn't Capital Flow from Rich to Poor Countries?

Author : P. draig Belton
Publisher : CRC Press
ISBN 13 : 1351351818
Total Pages : 107 pages
Book Rating : 4.3/5 (513 download)

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Book Synopsis Why Doesn't Capital Flow from Rich to Poor Countries? by : P. draig Belton

Download or read book Why Doesn't Capital Flow from Rich to Poor Countries? written by P. draig Belton and published by CRC Press. This book was released on 2017 with total page 107 pages. Available in PDF, EPUB and Kindle. Book excerpt: Robert Lucas is known among economists as one of the most influential macroeconomists of recent times--a reputation founded in no small part on the critical thinking skills displayed in his seminal 1990 paper 'Why Doesn';t Capital Flow from Rich to Poor Countries?'; Lucas's paper tackles a puzzle in economic theory that has since come to be known as the 'Lucas paradox, '; and it deploys the author';s brilliant problem solving skills to explain why such an apparent paradox in fact makes sense. Classical economic theory makes a simple prediction of how capital flows between countries: it should, it states, flow from rich to poor countries, because of the law of diminishing returns on capital. Since poor countries have so little capital invested in them, the returns on new investment should be proportionally far better than investment in rich countries. This should mean that investors seeking new opportunities will invest in poorer countries, making capital consistently flow from rich nations to poorer ones. But, problematically, this is not in fact the case. Having defined the problem, Lucas did what any good problem solver would: he looked critically at the criteria involved, and offered a series of possible solutions. Indeed, in just six pages, he puts forward four hypotheses to explain the paradox';s existence. The popularity of his paper, and the influence it has had, are also greatly magnified by careful reasoning embodied in Lucas's marshalling of evidence and his explanations of the judgements he has made."--Provided by publisher

Economics [4 volumes]

Author : David A. Dieterle
Publisher : Bloomsbury Publishing USA
ISBN 13 : 0313397082
Total Pages : 2345 pages
Book Rating : 4.3/5 (133 download)

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Book Synopsis Economics [4 volumes] by : David A. Dieterle

Download or read book Economics [4 volumes] written by David A. Dieterle and published by Bloomsbury Publishing USA. This book was released on 2017-03-27 with total page 2345 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive four-volume resource that explains more than 800 topics within the foundations of economics, macroeconomics, microeconomics, and global economics, all presented in an easy-to-read format. As the global economy becomes increasingly complex, interconnected, and therefore relevant to each individual, in every country, it becomes more important to be economically literate—to gain an understanding of how things work beyond the microcosm of the economic needs of a single individual or family unit. This expansive reference set serves to establish basic economic literacy of students and researchers, providing more than 800 objective and factually driven entries on all the major themes and topics in economics. Written by leading scholars and practitioners, the set provides readers with a framework for understanding economics as mentioned and debated in the public forum and media. Each of the volumes includes coverage of important events throughout economic history, biographies of the major economists who have shaped the world of economics, and highlights of the legislative acts that have shaped the U.S. economy throughout history. The extensive explanations of major economic concepts combined with selected key historical primary source documents and a glossary will endow readers with a fuller comprehension of our economic world.

Economic Thinkers

Author : David A. Dieterle
Publisher : Bloomsbury Publishing USA
ISBN 13 : 0313397473
Total Pages : 591 pages
Book Rating : 4.3/5 (133 download)

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Book Synopsis Economic Thinkers by : David A. Dieterle

Download or read book Economic Thinkers written by David A. Dieterle and published by Bloomsbury Publishing USA. This book was released on 2013-08-08 with total page 591 pages. Available in PDF, EPUB and Kindle. Book excerpt: Who are the individuals whose novel ideas, writings, and philosophies have influenced economics throughout history—and in doing so, have helped change the world? This encyclopedia provides a readable study of economics by examining the great economists themselves. This book presents biographies of 200 economic thinkers throughout history, supplying a one-stop reference about the men and women whose ideas, writings, and philosophies created the foundation of our current understanding of economics. Depicting their subjects within the contexts of history, development economics, and econometrics, these biographies provide an insightful overview of the world of economics through the economists of significance and the many subdisciplines, topics, eras, and philosophies they represent. Economic Thinkers: A Biographical Encyclopedia begins by describing economic thinkers in ancient Greece and Rome, moves through history to cover economists in the 15th through 19th centuries, and addresses economic theory in the 20th century and the modern era. Written to be easily accessible and highly readable, the work will appeal to students, scholars, general readers, and anyone interested in learning about the historical and philosophical foundation of economics.

The Cambridge Economic History of Latin America: Volume 2, The Long Twentieth Century

Author : Victor Bulmer-Thomas
Publisher : Cambridge University Press
ISBN 13 : 1139449524
Total Pages : 83 pages
Book Rating : 4.1/5 (394 download)

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Book Synopsis The Cambridge Economic History of Latin America: Volume 2, The Long Twentieth Century by : Victor Bulmer-Thomas

Download or read book The Cambridge Economic History of Latin America: Volume 2, The Long Twentieth Century written by Victor Bulmer-Thomas and published by Cambridge University Press. This book was released on 2006-01-23 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: Volume Two treats the 'long twentieth century' from the onset of modern economic growth to the present. It analyzes the principal dimensions of Latin America's first era of sustained economic growth from the last decades of the nineteenth century to 1930. It explores the era of inward-looking development from the 1930s to the collapse of import-substituting industrialization and the return to strategies of globalization in the 1980s. Finally, it looks at the long term trends in capital flows, agriculture and the environment.

Lectures on Economic Growth

Author : Robert E. Lucas
Publisher : Harvard University Press
ISBN 13 : 9780674016019
Total Pages : 220 pages
Book Rating : 4.0/5 (16 download)

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Book Synopsis Lectures on Economic Growth by : Robert E. Lucas

Download or read book Lectures on Economic Growth written by Robert E. Lucas and published by Harvard University Press. This book was released on 2002 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, Robert Lucas brings together several of his seminal papers on the subject, together with the Kuznets Lectures that he gave at Yale University, to present a coherent view of economic growth."--BOOK JACKET.

International Macroeconomics

Author : Robert C. Feenstra
Publisher : Macmillan
ISBN 13 : 1429241039
Total Pages : 984 pages
Book Rating : 4.4/5 (292 download)

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Book Synopsis International Macroeconomics by : Robert C. Feenstra

Download or read book International Macroeconomics written by Robert C. Feenstra and published by Macmillan. This book was released on 2011-03 with total page 984 pages. Available in PDF, EPUB and Kindle. Book excerpt: Combining classic international economics with straight-from-the- headlines immediacy, Feenstra and Taylor’s text seamlessly integrates the subject’s established core content with topic areas and ideas that have emerged from recent empirical studies. A MODERN APPROACH FOR THE 21ST CENTURY International economics texts traditionally place greater emphasis on theory and a strong focus on the advanced countries. Feenstra/Taylor links theory to empirical evidence throughout the book, and incorporates coverage of emerging markets and developing economies (India, China, SE Asia) to reflect the evolving realities of the global economy. The new edition has been extensively revised and updated, especially in light of the ongoing world financial crisis. NOTE: Feenstra/Taylor, International Economics, Second Edition, is available in four versions: International Economics, 2e: 1-4292-3118-1 International Trade, 2e: 1-4292-4104-7 International Macroeconomics, 2e: 1-4292-4103-9 Essentials of International Economics, 2e: 1-4292-7710-5

Themes in Economic Analysis

Author : Subrata Guha
Publisher : Routledge
ISBN 13 : 1317410823
Total Pages : 259 pages
Book Rating : 4.3/5 (174 download)

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Book Synopsis Themes in Economic Analysis by : Subrata Guha

Download or read book Themes in Economic Analysis written by Subrata Guha and published by Routledge. This book was released on 2015-08-11 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers diverse themes, including institutions and efficiency, choice and values, law and economics, development and policy, and social and economic measurement. Written in honour of the distinguished economist Satish K. Jain, this compilation of essays should appeal not only to students and researchers of economic theory but also to those interested in the design and evaluation of institutions and policy.

Trade Logistics in Landlocked and Resource Cursed Asian Countries

Author : Kankesu Jayanthakumaran
Publisher : Springer
ISBN 13 : 9811368147
Total Pages : 235 pages
Book Rating : 4.8/5 (113 download)

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Book Synopsis Trade Logistics in Landlocked and Resource Cursed Asian Countries by : Kankesu Jayanthakumaran

Download or read book Trade Logistics in Landlocked and Resource Cursed Asian Countries written by Kankesu Jayanthakumaran and published by Springer. This book was released on 2019-05-16 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book focuses on strategies to achieve economic diversification in Asian landlocked countries. It does so by analysing the impact of the Dutch disease, non-resource firm heterogeneity, trade logistics operations, trade facilitation, aid for trade, small and medium-sized enterprises, and foreign direct investment. Offering a wide range of expert views and opinions, research findings, information and data, the book will be of value to policy makers and students of trade and development economics.

Long-Term International Capital Movements and Technology

Author : Mr.Harm Zebregs
Publisher : International Monetary Fund
ISBN 13 : 1451854889
Total Pages : 29 pages
Book Rating : 4.4/5 (518 download)

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Book Synopsis Long-Term International Capital Movements and Technology by : Mr.Harm Zebregs

Download or read book Long-Term International Capital Movements and Technology written by Mr.Harm Zebregs and published by International Monetary Fund. This book was released on 1999-09-01 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper reviews the theoretical literature on the question of how long-term international capital movements depend on the international distribution of technology. It focuses on long-term investment flows, as these are more affected by international differences in technologies than short-term financial flows. International capital movements are investigated in the context of various technology specifications, ranging from models with only one common technology to those with multiple and endogenous technologies. The paper demonstrates that the theoretical specification of technology is crucial to the prediction of the size and direction of international capital movements.

The 10 Rules of Successful Nations

Author : Ruchir Sharma
Publisher : W. W. Norton & Company
ISBN 13 : 0393651959
Total Pages : 189 pages
Book Rating : 4.3/5 (936 download)

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Book Synopsis The 10 Rules of Successful Nations by : Ruchir Sharma

Download or read book The 10 Rules of Successful Nations written by Ruchir Sharma and published by W. W. Norton & Company. This book was released on 2020-03-31 with total page 189 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 10 Rules of Successful Nations offers a pithy guide to real-world economics, adapted from the New York Times bestseller The Rise and Fall of Nations. A wake-up call to economists who failed to foresee every recent crisis, including the cataclysm of 2008, The 10 Rules of Successful Nations is a slim primer full of pioneering insights on the political, economic, and social habits of successful nations. Distilled from Sharma’s quarter century traveling the world as a writer and investor, his rules challenge conventional textbook thinking on what matters—and what doesn’t—for a strong economy. He shows why successful nations embrace robots and immigrants, prefer democratic leaders to autocrats, elect charismatic reformers over technocrats, and pay no mind to the debate about big versus small government. He explains why rising stock prices matter as much or more than food prices, which measure of debt is the best predictor of economic crises, and why no one number can accurately capture the value of a currency. He also demonstrates how a close reading of the Forbes billionaire lists can offer the clearest real-time warning of populist revolts against the wealthy. Updated with brand-new data, 10 Rules reimagines economics as a practical art, giving general readers as well as political and business leaders a quick guide to the most important forces that shape a nation’s future.

Good Economics for Hard Times

Author : Abhijit V. Banerjee
Publisher : PublicAffairs
ISBN 13 : 1541762878
Total Pages : 398 pages
Book Rating : 4.5/5 (417 download)

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Book Synopsis Good Economics for Hard Times by : Abhijit V. Banerjee

Download or read book Good Economics for Hard Times written by Abhijit V. Banerjee and published by PublicAffairs. This book was released on 2019-11-12 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: The winners of the Nobel Prize show how economics, when done right, can help us solve the thorniest social and political problems of our day. Figuring out how to deal with today's critical economic problems is perhaps the great challenge of our time. Much greater than space travel or perhaps even the next revolutionary medical breakthrough, what is at stake is the whole idea of the good life as we have known it. Immigration and inequality, globalization and technological disruption, slowing growth and accelerating climate change--these are sources of great anxiety across the world, from New Delhi and Dakar to Paris and Washington, DC. The resources to address these challenges are there--what we lack are ideas that will help us jump the wall of disagreement and distrust that divides us. If we succeed, history will remember our era with gratitude; if we fail, the potential losses are incalculable. In this revolutionary book, renowned MIT economists Abhijit V. Banerjee and Esther Duflo take on this challenge, building on cutting-edge research in economics explained with lucidity and grace. Original, provocative, and urgent, Good Economics for Hard Times makes a persuasive case for an intelligent interventionism and a society built on compassion and respect. It is an extraordinary achievement, one that shines a light to help us appreciate and understand our precariously balanced world.

Competition Law in Developing Countries

Author : Thomas K. Cheng
Publisher : Oxford University Press
ISBN 13 : 0192607391
Total Pages : 545 pages
Book Rating : 4.1/5 (926 download)

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Book Synopsis Competition Law in Developing Countries by : Thomas K. Cheng

Download or read book Competition Law in Developing Countries written by Thomas K. Cheng and published by Oxford University Press. This book was released on 2020-05-27 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book brings together perspectives of development economics and law to tackle the relationship between competition law enforcement and economic development. It addresses the question of whether, and how, competition law enforcement helps to promote economic growth and development. This question is highly pertinent for developing countries largely because many developing countries have only adopted competition law in recent years: about thirty jurisdictions had in place a competition law in the early 1980s, and there are now more than 130 competition law regimes across the world, of which many are developing countries. The book proposes a customized approach to competition law enforcement for developing countries, set against the background of the academic and policy debate concerning convergence of competition law. The implicit premise of convergence is that there may exist one, or a few, correct approaches to competition law enforcement, which in most cases emanate from developed jurisdictions, that are applicable to all. This book rejects this assumption and argues that developing countries ought to tailor competition law enforcement to their own economic and political circumstances. In particular, it suggests how competition law enforcement can better incorporate development concerns without causing undue dilution of its traditional focus on protecting consumer welfare. It proposes ways in which approaches to competition law enforcement need to be adjusted to reflect the special economic characteristics of developing country economies and the more limited enforcement capacity of developing country competition authorities. Finally, it also addresses the long-running debate concerning the desirability and viability of industrial policy for developing countries. The author would like to acknowledge the Research Grants Council of Hong Kong for its generous support. The work in this book was fully supported by a grant from the Research Grants Council of Hong Kong (Project No. HKU 742412H).

IMF Staff Papers, Volume 56, No. 1

Author : International Monetary Fund. Research Dept.
Publisher : International Monetary Fund
ISBN 13 : 1589067940
Total Pages : 248 pages
Book Rating : 4.5/5 (89 download)

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Book Synopsis IMF Staff Papers, Volume 56, No. 1 by : International Monetary Fund. Research Dept.

Download or read book IMF Staff Papers, Volume 56, No. 1 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2009-06-01 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: This special issue brings together world-renowned experts to provide a systematic and critical analysis of the costs and benefits of financial globalization. Contributors include Kenneth Rogoff, Maurice Obstfeld, Dani Rodrik, and Frederic S. Mishkin.

Fiscal Policies and Growth in the World Economy

Author : Jacob A. Frenkel
Publisher : MIT Press
ISBN 13 : 9780262561044
Total Pages : 668 pages
Book Rating : 4.5/5 (61 download)

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Book Synopsis Fiscal Policies and Growth in the World Economy by : Jacob A. Frenkel

Download or read book Fiscal Policies and Growth in the World Economy written by Jacob A. Frenkel and published by MIT Press. This book was released on 1996 with total page 668 pages. Available in PDF, EPUB and Kindle. Book excerpt: Covering a full array of topics in open economy macro and public economics, Fiscal Policies and Growth in the World Economy has been thoroughly revised and extended. The added material in this new edition includes stochastic rational-expectations extensions of the Mundell-Fleming model, the development of a dynamic-optimizing approach of the trade balance, and an entirely new part on issues of international economic convergence, which also contains a comprehensive policy overview. Other chapters have been updated or reorganized, and there is a brief guide to solving typical dynamic macro problems along with a printout of software suitable for numerical simulations. A companion diskette containing solutions in dynamic macro problems and some sample programs is available in GAUSS for IBM. The exercises and solutions manual by Krueger, Ostry, and Yuen has also been updated and extended. Fiscal Policies and Growth in the World Economy has been used successfully in graduate and senior undergraduate courses in international economics and public finance. The objective of this new edition remains the same as before: to treat the major topics in macro and public economics using both traditional and modern approaches. The traditional approach is first explained, from the simple income-expenditure model to the more advanced stochastic Mundell-Fleming model. The modern intertemporal approach is then presented, starting with the simple two-period model and extending it to a full-fledged dynamic model. Other sections review recent developments in the world economy; government spending, budget deficits, and differences across international taxation; and economic growth in the world economy, especially the convergence of income and growth levels across countries.

China's Economic Development

Author : Cai Fang
Publisher : Taylor & Francis
ISBN 13 : 1000738787
Total Pages : 370 pages
Book Rating : 4.0/5 (7 download)

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Book Synopsis China's Economic Development by : Cai Fang

Download or read book China's Economic Development written by Cai Fang and published by Taylor & Francis. This book was released on 2022-10-20 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cai Fang is one of China’s most distinguished economists. This book elucidates the worldwide significance of China’s economic development over the past 70 years from the perspectives of economic history and growth theory. The Chinese economy has undergone an unprecedented period of growth and development since the reform and opening-up in the late 1970s; a process which the hallmarks of neoclassic economic theory have often proved inadequate to explain. Examining the Chinese economy in the light of Chinese history and the development of the world economy as a whole, the book charts the milestones and critical reforms of China’s economic development, providing insights into unique attributes as well as more generic patterns. The discussion covers multiple hot topics in the field, including the so-called Great Divergence, dual-sector economic development, real-world experience of the reform and opening-up, rural reform, urbanization, economic reform, poverty reduction, the latter day slowdown of China’s economic growth, and China¡ ̄s role in and response to globalization, global supply domination and other headwinds. The book will be a must-read for students, scholars and general readers interested in the Chinese economy, economic development, political economy, and development economics.

The Princeton Encyclopedia of the World Economy. (Two volume set)

Author : Kenneth A. Reinert
Publisher : Princeton University Press
ISBN 13 : 1400830400
Total Pages : 1329 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis The Princeton Encyclopedia of the World Economy. (Two volume set) by : Kenneth A. Reinert

Download or read book The Princeton Encyclopedia of the World Economy. (Two volume set) written by Kenneth A. Reinert and published by Princeton University Press. This book was released on 2010-08-02 with total page 1329 pages. Available in PDF, EPUB and Kindle. Book excerpt: An essential reference to all facets of the world economy Increasing economic globalization has made understanding the world economy more important than ever. From trade agreements to offshore outsourcing to foreign aid, this two-volume encyclopedia explains the key elements of the world economy and provides a first step to further research for students and scholars in public policy, international studies, business, and the broader social sciences, as well as for economic policy professionals. Written by an international team of contributors, this comprehensive reference includes more than 300 up-to-date entries covering a wide range of topics in international trade, finance, production, and economic development. These topics include concepts and principles, models and theory, institutions and agreements, policies and instruments, analysis and tools, and sectors and special issues. Each entry includes cross-references and a list of sources for further reading and research. Complete with an index and a table of contents that groups entries by topic, The Princeton Encyclopedia of the World Economy is an essential resource for anyone who needs to better understand the global economy. More than 300 alphabetically arranged articles on topics in international trade, finance, production, and economic development International team of contributors Annotated list of further reading with each article Topical list of entries Full index and cross-references Entry categories and sample topics: Concepts and principles: globalization, anti-globalization, fair trade, foreign direct investment, international migration, economic development, multinational enterprises Models and theory: Heckscher-Ohlin model, internalization theory, New Trade Theory, North-South trade, Triffin dilemma Institutions and agreements: European Union, International Monetary Fund, World Trade Organization, World Bank, Doha Round, international investment agreements Policies and instruments: dollar standard, international aid, sanctions, tariffs Analysis and tools: exchange rate forecasting, effective protection, monetary policy rules Sectors and special issues: child labor, corporate governance, the digital divide, health and globalization, illegal drugs trade, petroleum, steel