Growth and Economic Development shows how the different theories of
growth - from the classical to the endogenous growth and
Schumpeterian theories - can be brought together to develop a
satisfactory explanation of the varying rates of growth between
countries.A concise survey of the many theories of growth and
development, which provides a context for understanding how
different models can co-exist, is followed by an exploration of how
Solow's growth models assess the effects of technological progress.
The author then enlarges Schumpeter's theory of economic
development by using the theory of natural evolution and selection.
Professor Lombardini uses a simple model to show how innovation can
account for growth and an evolutionary model to determine
conditions in which selection can produce growth. Both these models
deal with the economy as a whole. In addition, a new method -
computational economics - is used to develop useful generalizations
about the roles of different factors for development.
General
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