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Trade, Growth, and Inequality (Hardcover)
Loot Price: R1,906
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Trade, Growth, and Inequality (Hardcover)
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Combining the fields of international trade theory, economic
development, and economic growth, this text provides an advanced
exposition suitable for graduate students as well as researchers at
all levels. It combines mathematical rigour with an exceptional
breadth of approaches, including institutions, history, and
comparative economics. Existing research is exposited and
evaluated, and numerous new results are included. The central
themes of economic inequality, within and between nations, are
discussed, as is convergence, or the reduction of inequality.
Distinctive features of the volume include a radical re-evaluation
of the theoretical basis of the economic convergence model proposed
by Barro and Sala-i-Martin, a new generalization of the standard
HOS model, and a new concept, the economic environment, designed to
model the effects of institutions in a more analytical and
micro-founded manner is discussed. Uniquely, the real world
examples included focus not only on countries participating fully
in globalized trade, like China, but also those countries and
regions failing to fully participate, specifically the Arab world
and sub-Saharan Africa. The text concludes with a discussion of
current issues in world economic governance, particularly the IMF
and limitations of the Washington consensus, showing that some
criticism fails to confront fundamental difficulties.
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