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Economics of Growth

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ISBN-10: 0262012634

ISBN-13: 9780262012638

Edition: 2008

Authors: Philippe Aghion, Peter Howitt

List price: $89.00
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Description:

This comprehensive introduction to economic growth presents the main facts and puzzles about growth, proposes simple methods and models needed to explain these facts, acquaints the reader with the most recent theoretical and empirical developments, and provides tools with which to analyze policy design. The treatment of growth theory is fully accessible to students with a background no more advanced than elementary calculus and probability theory; the reader need not master all the subtleties of dynamic programming and stochastic processes to learn what is essential about such issues as cross-country convergence, the effects of financial development on growth, and the consequences of globalization. The book, which grew out of courses taught by the authors at Harvard and Brown universities, can be used both by advanced undergraduate and graduate students, and as a reference for professional economists in government or international financial organizations. The Economics of Growthfirst presents the main growth paradigms: the neoclassical model, the AK model, Romer's product variety model, and the Schumpeterian model. The text then builds on the main paradigms to shed light on the dynamic process of growth and development, discussing such topics as club convergence, directed technical change, the transition from Malthusian stagnation to sustained growth, general purpose technologies, and the recent debate over institutions versus human capital as the primary factor in cross-country income differences. Finally, the book focuses on growth policiesanalyzing the effects of liberalizing market competition and entry, education policy, trade liberalization, environmental and resource constraints, and stabilization policyand the methodology of growth policy design. All chapters include literature reviews and problem sets. An appendix covers basic concepts of econometrics.
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Book details

List price: $89.00
Copyright year: 2008
Publisher: MIT Press
Publication date: 12/19/2008
Binding: Hardcover
Pages: 520
Size: 7.25" wide x 9.25" long x 1.00" tall
Weight: 2.024
Language: English

Complete Contents
Preface
Acknowledgments
Introduction
Part I
Neoclassical Growth Theory
The AK Model
Product Variety
The Schumpeterian Model
Capital, Innovation, and Growth Accounting
Part II
Finance and Growth
Technology Transfer and Cross-Country Convergence
Market Size and Directed Technical Change
General-Purpose Technologies
Stages of Growth
Institutions and Nonconvergence Traps
Part III
Fostering Competition and Entry
Investing in Education
Reducing Volatility and Risk
Liberalizing Trade
Preserving the Environment
Promoting Democracy
Conclusion
Looking Ahead: Culture and Development
Appendix: Basic Elements of Econometrics
References
Index