Principles of Economic Growth

Paperback | April 15, 1999

byThorvaldur Gylfason

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This is a concise and reader-friendly introduction to the principles of economic growth for students of economics and business. Gylfason examines theoretical and empirical models of economic growth through case studies drawn from around the world and a trenchant analysis of classic thought inthis area. The influence of public policy on economic efficiency and growth is a key theme which underpins this textbook's engagement with issues such as liberalization, stabilization, privatization, and unemployment, as well as technology, education, natural resources and geography. This book will be an ideal introduction to the topic for students of economics and business studying courses in macroeconomic principles, open economy macroeconomics, business and managerial economics, and international business . Chapter summaries and review questions are helpful learning aids, andall technical information is confined to appendices, making the book particularly student-friendly. A 'cast of characters' section gives brief accounts of the influence of key historical figures. These sections, combined with numerous figures and tables, help to make Principles of Economic Growthan exceptionally well-presented and lively guide to one of the most exciting areas of recent economic analysis.

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This is a concise and reader-friendly introduction to the principles of economic growth for students of economics and business. Gylfason examines theoretical and empirical models of economic growth through case studies drawn from around the world and a trenchant analysis of classic thought inthis area. The influence of public policy o...

Thorvaldur Gylfason is Research Professor of Economics at the University of Iceland in Reykjavik and Research Fellow of the Centre for Economic Policy Research in London. He has been a frequent consultant to the International Monetary Fund and the European Free Trade Association and has also worked for the European Commission in Brus...

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Format:PaperbackPublished:April 15, 1999Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0198776144

ISBN - 13:9780198776147

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Table of Contents

Chapter 1: Growing ApartBurma and Thailand; Botswana, Nigeria and Ghana; Uruguay, Argentina and Spain; Madagascar and Mauritius; Roots and branches; Quantity and quality; The importance of being efficient; Reforms and growthChapter 2: Roots and BranchesThe first revolution: Adam Smith; Adam Smith's followers; Enter mathematics: Harrod and Domar; The second revolution: The neo-classical model; The third revolution: Endogenous growth; summaryChapter 3: Quantity and QualityEndogenous growth and technology; endogenous growth accounting; The level of income with endogenous growth; The neo-classical model again; How strong? How long?; Exogenous growth illustrated; How much to save; Optimal growth in figures; summaryChapter 4: The Importance of Being EfficientGrowing together? Or growing apart?; Absolute vs. conditional convergence; Poverty traps; Case 1: Liberalization; Case 2: Stabilization; Case 3: Privatization; Case 4: Education, health and distribution; Case 5: Natural resources and geography; summaryChapter 5: Reforms and GrowthUnemployment and growth; Some obstacles to reform and growth; In conclusionAppendicesThe Harrod-Domar Model; The Solow Model: Exogenous Growth; Endogenous Growth; More on Endogenous Growth; More on Exogenous Growth; Optimal Saving and Growth; Liberalization, Efficiency and Growth; Stabilization, Efficiency and Growth; Privatization, Efficiency and Growth; Education, Taxes and GrowthReferencesCast of Characters

Editorial Reviews

'Very readable....it is to be hoped that (policy makers) will find time to read this insightful book; they might then come under the influence of a highly functional (text) concerned with the improvement of the human condition, both through economic growth and through a fair distribution ofits fruits.' R. Hannesson, Norwegian School of Economics and Business Administration, writing in the Scandinavian Journal of Economics, 2000