Introduction to Economic Growth

ISBN-10: 039391917X

ISBN-13: 9780393919172

Edition: 3rd

Authors: Charles I. Jones, Dietrich Vollrath

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Introduction to Economic Growth is the only text to synthesize the journal literature in a way that makes this important field accessible to undergraduates. Charles I. Jones and new co-author Dietrich Vollrath have updated and revised the text to reflect recent advances in Economic Growth Theory in clear, direct language.
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Book details

Edition: 3rd
Publisher: W. W. Norton & Company, Incorporated
Publication date: 1/9/2013
Binding: Paperback
Pages: 320
Size: 7.00" wide x 9.50" long x 1.00" tall
Weight: 1.936
Language: English

Dietrich Vollrath (Ph.D. Brown, 2005) is Associate Professor (with tenure) of Economics at the University of Houston. He is an up-and-coming scholar in long-run economic growth.

Preface
Introduction: The Facts of Economic Growth
The Data of Growth and Development
Other "Stylized Facts"
The Remainder of This Book
The Solow Model
The Basic Solow Model
Solving the Basic Solow Model
The Solow Diagram
Comparative Statics
Properties of the Steady State
Economic Growth in the Simple Model
Technology and the Solow Model
The Solow Diagram with Technology
Solving for the Steady State
Evaluating the Solow Model
Growth Accounting, the Productivity Slowdown, and the New Economy
Appendix: Closed-Form Solution of the Solow Model
Exercises
Empirical Applications of Neoclassical Growth Models
The Solow Model with Human Capital
Convergence and Explaining Differences in Growth Rates
The Evolution of Income Distribution
Exercises
The Economics of Ideas
What is Technology?
The Economics of Ideas
Intellectual Property Rights and the Industrial Revolution
Population and Ideas
Data on Ideas
Summary
Exercises
The Engine of Growth
The Basic Elements of the Romer Model
Growth in the Romer Model
Growth Effects versus Level Effects
Comparative Statics: A Permanent Increase in the R&D Share
The Economics of the Romer Model
The Final-Goods Sector
The Intermediate-Goods Sector
The Research Sector
Solving the Model
Growth Through Creative Destruction
The Basic Elements of the Schumpeterian Model
Growth in the Schumpeterian Model
The Economics of Schumpeterian Growth
The Final-Goods Sector
The Intermediate-Goods Sector
The Research Sector
Solving the Model
Comparing the Romer and Schumpeterian Models
Optimal R&D
Summary
Appendix: Solving for the R&D Share
Exercises
A Simple Model of Growth and Development
The Basic Model
Steady-State Analysis
Technology Transfer
Globalization and Trade
Understanding Differences in Growth Rates
Exercises
Social Infrastructure and Long-Run Economic Performance
A Business Investment Problem
Determinants of F
Determinants of �
Which Investments to Make?
Empirical Evidence
Misallocation and Productivity
The Choice of Social Infrastructure
Growth Miracles and Disasters
Summary
Exercises
Population and the Origin of Sustained Economic Growth
Population and Living Standards
The Malthusian Era
The Post-Malthusian Era
The Modern Growth Era
The Malthusian Economy
Production with a Fixed Factor
Technological Change
Continuous Technological Growth
Endogenous Technological Change
The Transition to Sustained Growth
Realistic Population Growth Rates
From Malthusian Stagnation to Sustained Growth
Structural Change during the Transition to Growth
The Economics of Population Growth
Comparative Development
Summary
Exercises
Alternative Theories of Endogenous Growth
A Simple Endogenous Growth Model: The "AK" Model
Intuition and Other Growth Models
Externalities and AK Models
Evaluating Endogenous Growth Models
What is Endogenous Growth?
Exercises
Natural Resource and Economic Growth
Nonrenewable Resources
Setup
The Balanced Growth Path
Quantifying the Importance of Natural Resources
Prices as Indicators of Scarcity
Implications and Explanations of Declining Factor Shares
Growth and the Environment
Summary
Exercises
Understanding Economic Growth
Why are We So Rich and they So Poor?
What is the Engine of Economic Growth?
How Do We Understand Growth Miracles?
Conclusion
Mathematical Review
Derivatives
What Does K Mean?
What Is a Growth Rate?
Growth Rates and Natural Logs
"Take Logs and Derivatives"
Ratios and Growth Rates
�log versus Percentage Change
Integration
An Important Rule of Integration
Simple Differential Equations
Compound Interest
Maximization of a Function
Exercises
Readings of Interest
Data on Economic Growth
Bibliography
Index
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