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Economic Growth (Hardcover, second edition)
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Economic Growth (Hardcover, second edition)
Series: Economic Growth
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The long-awaited second edition of an important textbook on
economic growth-a major revision incorporating the most recent work
on the subject. This graduate level text on economic growth surveys
neoclassical and more recent growth theories, stressing their
empirical implications and the relation of theory to data and
evidence. The authors have undertaken a major revision for the
long-awaited second edition of this widely used text, the first
modern textbook devoted to growth theory. The book has been
expanded in many areas and incorporates the latest research. After
an introductory discussion of economic growth, the book examines
neoclassical growth theories, from Solow-Swan in the 1950s and
Cass-Koopmans in the 1960s to more recent refinements; this is
followed by a discussion of extensions to the model, with expanded
treatment in this edition of heterogenity of households. The book
then turns to endogenous growth theory, discussing, among other
topics, models of endogenous technological progress (with an
expanded discussion in this edition of the role of outside
competition in the growth process), technological diffusion, and an
endogenous determination of labor supply and population. The
authors then explain the essentials of growth accounting and apply
this framework to endogenous growth models. The final chapters
cover empirical analysis of regions and empirical evidence on
economic growth for a broad panel of countries from 1960 to 2000.
The updated treatment of cross-country growth regressions for this
edition uses the new Summers-Heston data set on world income
distribution compiled through 2000.
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