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Social Capability and Long-Term Economic Growth (Paperback, 1st ed. 1995)
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Social Capability and Long-Term Economic Growth (Paperback, 1st ed. 1995)
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What accounts for the varying long term growth patterns across
developing countries? Why were some economies able to achieve
sustained and rapid growth in the past three decades, while others
failed? In Social Capability and Long-Term Economic Growth, an
impressive panel of economists come together to develop a theory of
long-term growth, focusing on the dynamic relationship between the
social capability to manage scarce resources and long-term growth.
Various theoretical issues concerning social capability are
explored, and in-depth case-studies of the development experiences
of Asian, Latin American, and socialist economies are presented
with significant empirical findings. The authors argue that a
nation's social capability to efficiently manage human resources is
a crucial ingredient for sustaining growth. This study is a serious
response to the important question of how a poor developing country
can transform itself into a developed one, and its findings offer
valuable insight to the development of a long-term growth theory
and to economic development policies.
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