Testing the Neoclassical Theory of Economic Growth

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Publisher : International Monetary Fund
ISBN 13 : 1451947054
Total Pages : 38 pages
Book Rating : 4.4/5 (519 download)

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Book Synopsis Testing the Neoclassical Theory of Economic Growth by : Delano Villanueva

Download or read book Testing the Neoclassical Theory of Economic Growth written by Delano Villanueva and published by International Monetary Fund. This book was released on 1992-12-01 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Several recent empirical studies have examined determinants of economic growth using country average (cross-section) data. In contrast, this paper employs a technique for using a panel of both cross-section and time-series data for 98 industrial and developing countries over 1960-85 to determine the quantitative importance for economic growth of both country-specific and time-varying factors such as human capital, public investment, and outward-oriented trade policies. The empirical results provide support for the view that these factors exert a positive and significant influence on economic growth. They also provide estimates of the speed at which the gap in real per capita income between rich and poor countries is likely to be reduced over the longer term.

Testing the Neoclassical Theory of Economic Growth

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Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (941 download)

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Book Synopsis Testing the Neoclassical Theory of Economic Growth by : Malcolm Donald Knight

Download or read book Testing the Neoclassical Theory of Economic Growth written by Malcolm Donald Knight and published by . This book was released on 1992 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Theories of Economic Growth

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Publisher :
ISBN 13 :
Total Pages : 360 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Theories of Economic Growth by : Bert Frank Hoselitz

Download or read book Theories of Economic Growth written by Bert Frank Hoselitz and published by . This book was released on 1961 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Papers ... of a seminar held at Dartmouth College in July and August of 1956." Includes bibliographical references. Mercantilist and physiocratic growth theory, by J.J. Spengler.--Adam Smith and David Ricardo on economic growth, by J.M. Letiche.--The theory of economic growth in the English classical school, by E. McKinley.--John Stuart Mill on economic development, by J.J. Spengler.--Toward a theory of economic growth: the neoclassical contribution, by J. Buttrick.--Theories of stages of economic growth, by B.F. Hoselitz.--Contemporary theorizing on economic growth, by H.J. Bruton.

Neoclassical Theory Structure and Theory Development

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Publisher : Springer Science & Business Media
ISBN 13 : 3642693490
Total Pages : 186 pages
Book Rating : 4.6/5 (426 download)

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Book Synopsis Neoclassical Theory Structure and Theory Development by : B. Hamminga

Download or read book Neoclassical Theory Structure and Theory Development written by B. Hamminga and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 186 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are quite a lot of recent books on the methodology of economics, but all proceed from one or more of the following three fundamental assumptions: 1) Meta-apriorism: it is a priori believed that the results of the philosophy of science of the past decades, associated with the names of Popper, Kuhn and Lakatos, yield conceptual frameworks that can be used to describe the product of the economist's endeavours. 2) Synchronism: it is believed that the inspection of a "theory" of economics, the presentation of some economic belief at a point in time, reveals its logical structure and ipso facto the "method" by which the "theory" is constructed. 3) CreduZity: it is believed that what economists themselves say on their own methods is true, or at least of primary relevance. In this book, I endeavour to show that these assumptions are false. First, the philosophies of science by Popper, Kuhn and Lakatos did not succeed in constructing a conceptual framework capable of describing theory development in economics. Secondly, this can only be seen as soon as not Zogic but history is taken to be the referee judging the adequacy of metatheories (diachronism). Thirdly the results of metaempiricaZ (not-meta-aprioristic), diachronic (not-synchronic) research reveals that even economists themselves turn out frequently to have inadequate metatheories upon which it is dangerous to rely (suspicion instead of credulity) .

Why Are Some Countries Richer Than Others?

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Publisher : DIANE Publishing
ISBN 13 : 143790565X
Total Pages : 41 pages
Book Rating : 4.4/5 (379 download)

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Book Synopsis Why Are Some Countries Richer Than Others? by : Jesus Felipe

Download or read book Why Are Some Countries Richer Than Others? written by Jesus Felipe and published by DIANE Publishing. This book was released on 2008-10 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides evidence of a problem with the influential testing and assessment of Solow¿s (1956) growth model proposed by Mankiw et al. (1992) and a series of papers evaluating the latter. First, the assumption of a common rate of technical progress maintained by Mankiw et al. (1992) is relaxed. Solow¿s model is extended to include the different levels and rates of technical progress of each country. This increases the explanatory power of the cross-country variation in income/capital of the OECD countries to over 80%. The estimates of the parameters are statistically significant and take the expected values and signs. Second, the estimates merely reflect a statistical artifact. This has serious implications for the possibility of actually testing Solow¿s growth model. Illus.

Classical, Neoclassical and Keynesian Views on Growth and Distribution

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Publisher : Edward Elgar Publishing
ISBN 13 : 9781781008089
Total Pages : 360 pages
Book Rating : 4.0/5 (8 download)

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Book Synopsis Classical, Neoclassical and Keynesian Views on Growth and Distribution by : Neri Salvadori

Download or read book Classical, Neoclassical and Keynesian Views on Growth and Distribution written by Neri Salvadori and published by Edward Elgar Publishing. This book was released on 2006-01-27 with total page 360 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book reconsiders and analyses the different approaches historically proposed in the literature on growth and distribution. The contributors have achieved, through a comprehensive and cohesive analysis of the approaches of different schools of thought, a wide-ranging interpretation of a variety of important economic phenomena. The book identifies elements characterising each approach and tries to derive from them a range of insights into the complexity of the growth process.

The Theory of Economic Growth

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Author :
Publisher : Edward Elgar Publishing
ISBN 13 :
Total Pages : 838 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis The Theory of Economic Growth by : Neri Salvadori

Download or read book The Theory of Economic Growth written by Neri Salvadori and published by Edward Elgar Publishing. This book was released on 2003 with total page 838 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a collection of work on the theory of economic growth, from a classical perspective.

A Neo-Classical Theory of Economic Growth (Routledge Revivals)

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Author :
Publisher : Routledge
ISBN 13 : 1136258957
Total Pages : 163 pages
Book Rating : 4.1/5 (362 download)

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Book Synopsis A Neo-Classical Theory of Economic Growth (Routledge Revivals) by : James E. Meade

Download or read book A Neo-Classical Theory of Economic Growth (Routledge Revivals) written by James E. Meade and published by Routledge. This book was released on 2013-04-03 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1960, this seminal work illuminates the interrelations of the various approaches to the theory of economic growth. Professor Meade seeks to understand the factors which determine the speed of economic growth and outlines the ways in which classical economic analysis may be developed for application to the problem of economic growth.

Rethinking Economic Growth Theory From a Biophysical Perspective

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Publisher : Springer
ISBN 13 : 3319128264
Total Pages : 129 pages
Book Rating : 4.3/5 (191 download)

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Book Synopsis Rethinking Economic Growth Theory From a Biophysical Perspective by : Blair Fix

Download or read book Rethinking Economic Growth Theory From a Biophysical Perspective written by Blair Fix and published by Springer. This book was released on 2014-12-09 with total page 129 pages. Available in PDF, EPUB and Kindle. Book excerpt: Neoclassical growth theory is the dominant perspective for explaining economic growth. At its core are four implicit assumptions: 1) economic output can become decoupled from energy consumption; 2) economic distribution is unrelated to growth; 3) large institutions are not important for growth; and 4) labor force structure is not important for growth. Drawing on a wide range of data from the economic history of the United States, this book tests the validity of these assumptions and finds no empirical support. Instead, connections are found between the growth in energy consumption and such disparate phenomena as economic redistribution, corporate employment concentration, and changing labor force structure. The integration of energy into an economic growth model has the potential to offer insight into the future effects of fossil fuel depletion on key macroeconomic indicators, which is already manifested in stalled or diminished growth and escalating debt in many national economies. This book argues for an alternative, biophysical perspective to the study of growth, and presents a set of "stylized facts" that such an approach must successfully explain. Aspects of biophysical analysis are combined with differential monetary analysis to arrive at a unique empirical methodology for investigating the elements and dependencies of the economic growth process.

Neoclassical Vs. Evolutionary Theories of Economic Growth

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Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Neoclassical Vs. Evolutionary Theories of Economic Growth by : Richard R. Nelson

Download or read book Neoclassical Vs. Evolutionary Theories of Economic Growth written by Richard R. Nelson and published by . This book was released on 1973 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt:

A Neo-Classical Theory of Economic Growth (Routledge Revivals)

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Author :
Publisher : Routledge
ISBN 13 : 1136258949
Total Pages : 150 pages
Book Rating : 4.1/5 (362 download)

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Book Synopsis A Neo-Classical Theory of Economic Growth (Routledge Revivals) by : James E. Meade

Download or read book A Neo-Classical Theory of Economic Growth (Routledge Revivals) written by James E. Meade and published by Routledge. This book was released on 2013-04-03 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1960, this seminal work illuminates the interrelations of the various approaches to the theory of economic growth. Professor Meade seeks to understand the factors which determine the speed of economic growth and outlines the ways in which classical economic analysis may be developed for application to the problem of economic growth.

The Revolution that Bit Its Own Tail

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Author :
Publisher : Amsterdam University Press
ISBN 13 :
Total Pages : 316 pages
Book Rating : 4.:/5 (321 download)

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Book Synopsis The Revolution that Bit Its Own Tail by : Jan W. Drukker

Download or read book The Revolution that Bit Its Own Tail written by Jan W. Drukker and published by Amsterdam University Press. This book was released on 2006 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 1960s witnessed a revolutionary change in economic history, to such an extent that in less than ten years time, the discipline was hardly recognizable thereafter. The essentially literary-descriptive method that had characterized economic history since its very beginnings in the second half of the 19th century, gave way to rigorous quantitative testing of mathematically formulated hypotheses, and as a result a host of formerly generally accepted ideas suddenly and quite unexpectedly lost their credibility in academic circles. Although the revisions that were the result of this so called cliometric revolution had a major impact on our ideas on economic development, this methodological revolution remained almost unnoticed outside the realms of academic economic history, the reason for this being the nature of the revolution itself. Suddenly, economic historical articles in professional journals became more or less unintelligible for the interested layman, as they were cast in a language that was directly derived from highly specialized fields of study, such as neoclassical economic theory and econometrics. The revolution that bit its own tail explains in terms understandable for non-specialist readers what was essential in the cliometric revolution and in what ways it changed our ideas on economic development. The book addresses itself in the first place to students in history and economics, but is also an indispensable guide for everyone who is engaged in what is one of today's most pressing problems: The increasing inequality in wealth between rich and poor countries, or, stated in more formal terms: the explanation of economic growth, stagnation and decline.

Economic Growth, second edition

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Publisher : MIT Press
ISBN 13 : 9780262025539
Total Pages : 676 pages
Book Rating : 4.0/5 (255 download)

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Book Synopsis Economic Growth, second edition by : Robert J. Barro

Download or read book Economic Growth, second edition written by Robert J. Barro and published by MIT Press. This book was released on 2003-10-10 with total page 676 pages. Available in PDF, EPUB and Kindle. Book excerpt: The long-awaited second edition of an important textbook on economic growth—a major revision incorporating the most recent work on the subject. This graduate level text on economic growth surveys neoclassical and more recent growth theories, stressing their empirical implications and the relation of theory to data and evidence. The authors have undertaken a major revision for the long-awaited second edition of this widely used text, the first modern textbook devoted to growth theory. The book has been expanded in many areas and incorporates the latest research. After an introductory discussion of economic growth, the book examines neoclassical growth theories, from Solow-Swan in the 1950s and Cass-Koopmans in the 1960s to more recent refinements; this is followed by a discussion of extensions to the model, with expanded treatment in this edition of heterogenity of households. The book then turns to endogenous growth theory, discussing, among other topics, models of endogenous technological progress (with an expanded discussion in this edition of the role of outside competition in the growth process), technological diffusion, and an endogenous determination of labor supply and population. The authors then explain the essentials of growth accounting and apply this framework to endogenous growth models. The final chapters cover empirical analysis of regions and empirical evidence on economic growth for a broad panel of countries from 1960 to 2000. The updated treatment of cross-country growth regressions for this edition uses the new Summers-Heston data set on world income distribution compiled through 2000.

The Theory of Economic Growth

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Author :
Publisher :
ISBN 13 :
Total Pages : 106 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis The Theory of Economic Growth by : J. A. Kregel

Download or read book The Theory of Economic Growth written by J. A. Kregel and published by . This book was released on 1972 with total page 106 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Trade and Economic Growth

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Publisher :
ISBN 13 :
Total Pages : 856 pages
Book Rating : 4.:/5 (189 download)

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Book Synopsis Trade and Economic Growth by : Ronald V. A. Sprout

Download or read book Trade and Economic Growth written by Ronald V. A. Sprout and published by . This book was released on 1987 with total page 856 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Making of Neoclassical Economics (Routledge Revivals)

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Publisher : Routledge
ISBN 13 : 1136810536
Total Pages : 288 pages
Book Rating : 4.1/5 (368 download)

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Book Synopsis The Making of Neoclassical Economics (Routledge Revivals) by : John F. Henry

Download or read book The Making of Neoclassical Economics (Routledge Revivals) written by John F. Henry and published by Routledge. This book was released on 2012-07-26 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1990, this unique explanation of the rise of neoclassical economics views social change as an engine promoting change in theory. It attempts to develop a theory of the origins, consolidation and rise to dominance of the neoclassical school of thought. In so doing, it addresses the contest between the labour and utility theories of value; both are placed in historical context, and reasons are offered for the relative success of each in particular historical periods. It is argued that the eventual dominance of neoclassicism, a theory based on the social changes then taking place, resulted not from its scientific superiority but from its non-social perspective which ignores the social order upon which it depends.

Constitutional Environments and Economic Growth

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Publisher : Princeton University Press
ISBN 13 : 1400862833
Total Pages : 258 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Constitutional Environments and Economic Growth by : Gerald W. Scully

Download or read book Constitutional Environments and Economic Growth written by Gerald W. Scully and published by Princeton University Press. This book was released on 2014-07-14 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this provocative work, Gerald Scully develops and empirically tests a theory about how a nation's constitutional setting affects its economic growth. Modern growth theory links the rise in the standard of living to capital formation, both physical and human, and to technological progress, and development economists continue to believe that the transformation of the less developed world cannot occur without massive government control of the economy. Scully, on the other hand, maintains that material advancement is as much affected by the choice of the economic, legal, and political institutions under which people live and work as it is by resource endowment and technological progress. Nothing in the neoclassical theory of growth considers the "rules of the game" under which capital is accumulated and innovation is made. Redressing this neglect, Scully proposes ways of measuring the economic, civil, and political freedom within a society's institutional framework, and he reveals that freedom, or the lack thereof, powerfully and demonstrably influences not only economic progress but also income distribution. Politically open societies grow at nearly three times the rate of those where freedom is more circumscribed, and they also have a more equitable distribution of income. Finally, Scully measures the effect of the size of the state on economic progress, showing that the larger the amount of government expenditures out of gross domestic product, the lower the rate of economic progress. Originally published in 1992. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.