Advertisement
| economic growth rates in follower countries: Economic Growth, second edition Robert J. Barro, Xavier I. Sala-I-Martin, 2003-10-10 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. |
| economic growth rates in follower countries: Global Productivity Alistair Dieppe, 2021-06-09 The COVID-19 pandemic struck the global economy after a decade that featured a broad-based slowdown in productivity growth. Global Productivity: Trends, Drivers, and Policies presents the first comprehensive analysis of the evolution and drivers of productivity growth, examines the effects of COVID-19 on productivity, and discusses a wide range of policies needed to rekindle productivity growth. The book also provides a far-reaching data set of multiple measures of productivity for up to 164 advanced economies and emerging market and developing economies, and it introduces a new sectoral database of productivity. The World Bank has created an extraordinary book on productivity, covering a large group of countries and using a wide variety of data sources. There is an emphasis on emerging and developing economies, whereas the prior literature has concentrated on developed economies. The book seeks to understand growth patterns and quantify the role of (among other things) the reallocation of factors, technological change, and the impact of natural disasters, including the COVID-19 pandemic. This book is must-reading for specialists in emerging economies but also provides deep insights for anyone interested in economic growth and productivity. Martin Neil Baily Senior Fellow, The Brookings Institution Former Chair, U.S. President’s Council of Economic Advisers This is an important book at a critical time. As the book notes, global productivity growth had already been slowing prior to the COVID-19 pandemic and collapses with the pandemic. If we want an effective recovery, we have to understand what was driving these long-run trends. The book presents a novel global approach to examining the levels, growth rates, and drivers of productivity growth. For anyone wanting to understand or influence productivity growth, this is an essential read. Nicholas Bloom William D. Eberle Professor of Economics, Stanford University The COVID-19 pandemic hit a global economy that was already struggling with an adverse pre-existing condition—slow productivity growth. This extraordinarily valuable and timely book brings considerable new evidence that shows the broad-based, long-standing nature of the slowdown. It is comprehensive, with an exceptional focus on emerging market and developing economies. Importantly, it shows how severe disasters (of which COVID-19 is just the latest) typically harm productivity. There are no silver bullets, but the book suggests sensible strategies to improve growth prospects. John Fernald Schroders Chaired Professor of European Competitiveness and Reform and Professor of Economics, INSEAD |
| economic growth rates in follower countries: Economic Growth and Convergence Robert J. Barro, 1994 |
| economic growth rates in follower countries: Economic Growth, second edition Robert J. Barro, Xavier I. Sala-I-Martin, 2003-10-10 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. |
| economic growth rates in follower countries: The Cambridge Economic History of the Modern World S. N. Broadberry, Kyōji Fukao, 2021 The first volume of The Cambridge Economic History of the Modern World traces the emergence of modern economic growth in eighteenth century Britain and its spread across the globe. Focusing on the period from 1700 to 1870, a team of leading experts in economic history offer a series of regional studies from around the world, as well as thematic analyses of key factors governing the differential outcomes in different parts of the global economy. Topics covered include population and human development, capital and technology, geography and institutions, living standards and inequality, international flows of trade and labour, the international monetary system, and war and empire-- |
| economic growth rates in follower countries: The Growth Delusion David Pilling, 2018-01-30 A provocative critique of the pieties and fallacies of our obsession with economic growth We live in a society in which a priesthood of economists, wielding impenetrable mathematical formulas, set the framework for public debate. Ultimately, it is the perceived health of the economy which determines how much we can spend on our schools, highways, and defense; economists decide how much unemployment is acceptable and whether it is right to print money or bail out profligate banks. The backlash we are currently witnessing suggests that people are turning against the experts and their faulty understanding of our lives. Despite decades of steady economic growth, many citizens feel more pessimistic than ever, and are voting for candidates who voice undisguised contempt for the technocratic elite. For too long, economics has relied on a language which fails to resonate with people's actual experience, and we are now living with the consequences. In this powerful, incisive book, David Pilling reveals the hidden biases of economic orthodoxy and explores the alternatives to GDP, from measures of wealth, equality, and sustainability to measures of subjective wellbeing. Authoritative, provocative, and eye-opening, The Growth Delusion offers witty and unexpected insights into how our society can respond to the needs of real people instead of pursuing growth at any cost. |
| economic growth rates in follower countries: Economic Growth David N. Weil, 2016-06-03 Why are some countries rich and others poor? David N. Weil, one of the top researchers in economic growth, introduces students to the latest theoretical tools, data, and insights underlying this pivotal question. By showing how empirical data relate to new and old theoretical ideas, Economic Growth provides students with a complete introduction to the discipline and the latest research. With its comprehensive and flexible organization, Economic Growth is ideal for a wide array of courses, including undergraduate and graduate courses in economic growth, economic development, macro theory, applied econometrics, and development studies. |
| economic growth rates in follower countries: Economic Growth Alfonso Novales, Esther Fernández, Jesús Ruiz, 2021-12-03 This is the third corrected and extended edition of a book on deterministic and stochastic Growth Theory and the computational methods needed to produce numerical solutions. Exogenous and endogenous growth, non-monetary and monetary models are thoroughly reviewed. Special attention is paid to the use of these models for fiscal and monetary policy analysis. Models under modern theories of the Business Cycle, New Keynesian Macroeconomics, and Dynamic Stochastic General Equilibrium models, can be all considered as special cases of economic growth models, and they can be analyzed by the theoretical and numerical procedures provided in the textbook. Analytical discussions are presented in full detail. The book is self-contained and it is designed so that the student advances in the theoretical and the computational issues in parallel. Spreadsheets are used to solve simple examples. Matlab files are provided on an accompanying website to illustrate theoretical results from all chapters as well as to simulate the effects of economic policy interventions. The logical structure of these program files is described in Numerical exercise-type of sections, where the output of these programs is also interpreted. The third edition corrects a few typographical errors, includes two new and original chapters on frequentist and Bayesian estimation, and improves some notation. |
| economic growth rates in follower countries: Modern Economic Growth Simon Smith Kuznets, 1966 |
| economic growth rates in follower countries: Varieties of Capitalism Peter A. Hall, David W. Soskice, 2001 Applying the new economics of organisation and relational theories of the firm to the problem of understanding cross-national variation in the political economy, this volume elaborates a new understanding of the institutional differences that characterise the 'varieties of capitalism' worldwide. |
| economic growth rates in follower countries: International Trade and Economic Growth Hendrik Van den Berg, Joshua J Lewer, 2015-01-30 Unlike any other text on international trade, this groundbreaking book focuses on the dynamic long-run relationship between trade and economic growth rather than the static short-run relationship between trade and economic efficiency. The authors begin with well-known theory on international trade, and then take the student into more recent and less well-known work, all with a careful balance between empirical and theoretical perspectives. A valuable teaching tool for courses in international economics, economic growth, and economic development at both the undergraduate and graduate levels, the book uses some very modest algebra, calculus, and statistics. However, most analytical discussions are built around diagrams in order to make the text accessible to students with a variety of social science backgrounds. An Instructor's Manual is available to professors who adopt the text. |
| economic growth rates in follower countries: Human Capital and Development Ju-Ho Lee, Hyeok Jeong, Song Chang Hong, During recent decades, Korea has been one of only a handful of countries that have made the successful transformation to become a developed nation by simultaneously achieving persistent economic growth combined with a democratic political system. Experts and political leaders worldwide have attributed this achievement to investments in people or, in other words, the power of education. Whilst numerous books have highlighted the role of industrial policies, technological growth, and international trade in Korea’s development process, this is one of the first to focus on the role of human capital. It shows how the accumulation of human capital aided transformation and helps explain the policies, strategies and challenges that Korea faces now and in the future. |
| economic growth rates in follower countries: The Economic Consequences of Demographic Change in East Asia Takatoshi Ito, Andrew K. Rose, 2010-10-15 Recent studies show that almost all industrial countries have experienced dramatic decreases in both fertility and mortality rates. This situation has led to aging societies with economies that suffer from both a decline in the working population and a rise in fiscal deficits linked to increased government spending. East Asia exemplifies these trends, and this volume offers an in-depth look at how long-term demographic transitions have taken shape there and how they have affected the economy in the region. The Economic Consequences of Demographic Change in East Asia assembles a group of experts to explore such topics as comparative demographic change, population aging, the rising cost of health care, and specific policy concerns in individual countries. The volume provides an overview of economic growth in East Asia as well as more specific studies on Japan, Korea, China, and Hong Kong. Offering important insights into the causes and consequences of this transition, this book will benefit students, researchers, and policy makers focused on East Asia as well as anyone concerned with similar trends elsewhere in the world. |
| economic growth rates in follower countries: Economic Growth Quamrul H. Ashraf, David N. Weil, 2024-10-30 Why are some countries rich and others poor? This leading text introduces students to the latest theoretical tools, data, and insights underlying this pivotal question. By showing how empirical evidence relates to new and old theoretical ideas, Economic Growth provides students with a complete introduction to the discipline and the latest research. In addition to thorough updates to the data throughout the book, this fourth edition responds to new research in the field since the last edition. Major changes include: new material on labor’s share of income updated material on health and education updated material on the impact of trade on productivity a heavily revised chapter on government, including an expanded section on legacy effects of colonialism a heavily revised chapter on income inequality, including an expanded section on mobility a heavily revised chapter on culture, including an expanded section on persistent effects of geographical factors updated material on climate change, including an expanded discussion of outcomes and policies related to global warming updated online learning resources With its comprehensive and flexible organization, Economic Growth is ideal for a wide array of courses, including undergraduate and graduate courses in economic growth, economic development, macroeconomic theory, applied econometrics, and development studies. |
| economic growth rates in follower countries: Economic Growth and Resources Edmond Malinvaud, 1979-09-19 |
| economic growth rates in follower countries: General Purpose Technologies and Economic Growth Elhanan Helpman, 1998 Traditionally, economists have considered the accumulation of conventional inputs such as labour and capital to be the primary force behind economic growth. In the late-1990s however, many economists place technological progress at the centre of the growth process. This shift is due to theoretical developments that allow researchers to link microeconomic outcomes. |
| economic growth rates in follower countries: Innovation, Intellectual Property, and Economic Growth Christine Greenhalgh, Mark Rogers, 2010-01-24 Christine Greenhalgh explains the complex process of innovation & how it sustains the growth of firms, industries & economies, combining microeconomic & macroeconomic analysis. |
| economic growth rates in follower countries: Handbook of Research on Comparative Economic Development Perspectives on Europe and the MENA Region Erdo?du, M. Mustafa, 2016-01-07 ############################################################################################################################################################################################################################################################### |
| economic growth rates in follower countries: eBook: Economics 20th Edition MCCONNELL, 2017-02-15 eBook: Economics 20th Edition |
| economic growth rates in follower countries: Social Capability and Long-Term Economic Growth Bon Ho Koo, Dwight H. Perkins, 2016-07-27 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. |
| economic growth rates in follower countries: The Global Dimension of Economic Evolution Kurt Dopfer, 2012-12-06 This volume on evolutionary approaches to economic development and growth is a member of a family of special volumes that Springer has published on Evolu tionary Economics recently. The present volume has excellent predecessors. There is a special volume on Evolution in Markets and Institutions, edited by Ulrich Witt, and another on Evolutionary and Neoclassical Perspectives on Market Structure and Economic Growth, edited by Yannis Katsoulacos. And there are more in the pipeline. The volumes already published reflect the broad ranging interests of evolu tionary economists, and within the scope delineated they are devoted to major research areas of the discipline. The editorial intention behind the venture of special volumes has been to bundle together some of the research areas in order to sharpen the problem focus and to generate research synergies within major research fields. We may, somewhat obviously, define a research field by its research topics. For the present purpose however, we may wish to conceive the research conducted by evolutionary economists as belonging to either a research area that is inspired in its problem perspective by neoclassical economics or to one that is not. The very success of the critique of the neoclassical paradigm relied on a preoccupation with its research scope and questions. Evolutionary econom ics has scored marvelously in challenging major neoclassical stands, and neoclassical economics may never be quite the same in the future. |
| economic growth rates in follower countries: Growth and Productivity in Asean Countries Mr. Michael Sarel, 1997-08-01 This study examines the nature of the growth process in the ASEAN countries, and particularly whether it has been generated primarily by more inputs or by productivity gains. It uses internationally comparable data and explores an alternative method for estimating the capital and labor factor shares. The results, contradicting some previous studies, indicate a very impressive growth rate of TFP in Singapore, Thailand, and Malaysia, a relatively strong rate for Indonesia, and a negative rate for the Philippines. This study argues that the results of previous studies were driven mainly by the fact that they relied on national accounts data for measures of various variables and, in particular, the factor income shares of capital and labor. |
| economic growth rates in follower countries: Handbook of Economic Growth Philippe Aghion, Steven Durlauf, 2005-12-09 The Handbooks in Economics series continues to provide the various branches of economics with handbooks which are definitive reference sources, suitable for use by professional researchers, advanced graduate students, or by those seeking a teaching supplement.The Handbook of Economic Growth, edited by Philippe Aghion and Steven Durlauf, with an introduction by Robert Solow, features in-depth, authoritative survey articles by the leading economists working on growth theory.Volume 1A, the first in this two volume set, covers theories of economic growth, the empirics of economic growth, and growth policies and mechanisms.Volume 1B, the second in this two volume set, covers technology, trade and geography, and growth and socio-economic development. |
| economic growth rates in follower countries: International Productivity and Competitiveness Bert G. Hickman, 1992-03-26 This pathbreaking volume conveys the state of the art of contemporary research on productivity growth and international competitiveness--arguably the most important problems facing contemporary economics. Adopting a worldwide perspective that features comparative analyses of both industrialized and developing countries, the book assembles papers from an international roster of leading scholars who cover a wide range of complementary topics and approaches. A number of the papers attempt to increase the clarity of thinking about competitiveness by developing formal definitions of the concept and relating it to more conventional economics concepts such as productivity. Some provide a macroeconomic perspective whereas others compare cross-sections of individual industries across countries or analyze the efficacy of industrial policies to promote competitiveness. Among the common themes, which are highlighted in the editor's overview chapter, are the measurement of labor and total factor productivity, accounting for the sources of productivity growth, the use of purchasing power parity indexes in international comparisons of productivity levels, the worldwide productivity slowdown, the extent of productivity convergence among developed economies, the primacy of exchange rate fluctuations in short-term movements of competitiveness since the early 1970's, and the causes of the apparent loss of U.S. competitiveness during the 1980's. |
| economic growth rates in follower countries: International Economics Hendrik Van den Berg, 2016-11-17 Now in its third edition, Hendrik Van den Berg’s International Economics: A Heterodox Approach covers all of the standard topics taught in undergraduate international economics courses. Written in a friendly and approachable style, this new edition is unique in that it presents the key orthodox neoclassical models of international trade and investment, while supplementing them with a variety of heterodox approaches. This pluralist approach is intended to give economics students a more realistic understanding of the international economy than standard textbooks can provide. Changes to the new edition include: updates throughout to reflect recent world events, including coverage of trade negotiations and the Greek crisis; expanded discussion of pluralist approaches with more coverage of alternative schools of thought; discussions of the growing financialization of global economic activity; additional real-world examples; increased coverage of environmental issues; transnational corporations and their behavior in the international economy; the difference between international investment and international finance; and monetary history; a consolidated and updated chapter on international banking. This book also maintains a broad perspective that links economic activity to the social and natural spheres of human activity, with emphasis on the distributional and environmental effects of international trade, investment, finance, and migration. Chapter summaries, key terms and concepts, problems and questions, and a glossary are included in the book. A Student Study Guide and an Instructor’s Manual are available online. |
| economic growth rates in follower countries: Quantitative Aspects of Post-War European Economic Growth Bart van Ark, Nicholas Crafts, 2007-01-18 A quantitative account of European growth since 1950 which combines historical and economic expertise. |
| economic growth rates in follower countries: The Economics of Structural Change in Knowledge Francesco Quatraro, 2012-03-29 This book provides an elaboration upon the concept of knowledge from an economic viewpoint. However this is not a book on economics of knowledge, at least not in the conventional sense. Most of the existing books on the matter have focused on the treatment of knowledge in terms of properties of knowledge as an economic good, incentive schemes for the creation of knowledge, issues about the codified/tacit nature of knowledge and the like. |
| economic growth rates in follower countries: Thinking about Growth Moses Abramovitz, 1989-04-28 The essays in this book explore the forces behind modern economic growth and, in particular, the causes of the extraordinary surge of growth since the Second World War. The introductory essay is an extended treatment of how economists now view the growth process and its causes. Other essays consider the contributions of capital formation, education, and the changed nature of industries and occupations. Professor Abramovitz asks why elevated incomes failed to bring the social progress and personal satisfaction that people had looked for. The final chapters in the book take up the causes of our discontent and consider whether the Welfare State has itself become an obstacle to further economic progress.The essays in this book explore the forces behind modern economic growth and, in particular, the causes of the extraordinary surge of growth since the Second World War. The introductory essay is an extended treatment of how economists now view the growth process and its causes. Other essays consider the contributions of capital formation, education, and the changed nature of industries and occupations. Professor Abramovitz asks why elevated incomes failed to bring the social progress and personal satisfaction that people had looked for. The final chapters in the book take up the causes of our discontent and consider whether the Welfare State has itself become an obstacle to further economic progress. |
| economic growth rates in follower countries: Eurasian Economies in Transition E. Ayşen Hiç Gencer, Selahattin Sarı, İlyas Sözen, 2016-12-14 This book explores the economic environment in Eurasian countries, particularly investigating the transition economies in Asia, Central Asia and the former Soviet socialist bloc countries. It analyses the region from the perspective of globalisation and economic integration, economic growth and development, international trade and finance, and the energy and natural resources sectors. The second book in a series based on selected papers from the International Conference on Eurasian Economies, it will appeal to anyone who is interested in economies of the region, their transition processes towards a market economy regime, and their integration into the global world. |
| economic growth rates in follower countries: International Economics: A Heterodox Approach Hendrik Van den Berg, 2014-12-18 Now in its third edition, this textbook covers all of the standard topics taught in undergraduate International Economics courses. However, the book is unique in that it presents the key orthodox neoclassical models of international trade and investment, whilst supplementing them with a variety of heterodox approaches. This pluralist approach is intended to give economics students a more realistic understanding of the international economy than standard textbooks can provide. |
| economic growth rates in follower countries: Theories of Comparative Economic Growth Kwang Choi, 1983 |
| economic growth rates in follower countries: Endogenous Innovation Cristiano Antonelli, This ground-breaking new book builds upon the Schumpeterian creative response. The author shows that firms, in out-of-equilibrium conditions, try and react by means of introducing innovations. The success of their reaction is contingent upon their access conditions to knowledge, which are shaped by the system in which they operate. The emergence of new innovations can, in turn, knock firms further out-of-equilibrium and cause changes in the system properties that govern their access to external knowledge. This path dependent loop of interactions between the system properties and the individual actions of firms, accounts for endogenous innovation and the dynamics of the system. |
| economic growth rates in follower countries: The Economic History of Britain Since 1700 Roderick Floud, Deirdre N. McCloskey, 1994-08-18 The most up-to-date and comprehensive survey of recent British economic history currently available. |
| economic growth rates in follower countries: Technology and Industrial Progress G. N. Von Tunzelmann, 1995-01-01 What has dictated the rate and direction of technological change? How central has it been to industrial progress? How has it related to other determinants of economic growth and development? In Technology and Industrial Progress, Dr von Tunzelmann examines theoretical views on the nature and contribution of technology, and the empirical evidence from the major industrializing countries from the 18th century to the present day. The experiences of countries regarded in their time as the leaders of industrialization - Britain in the 18th century, the United States in the 19th century and Japan in the 20th century - are critically compared by the author. The following chapters study the transfer of each of these patterns of technology and growth to later industrializers, such as continental Europe, the Soviet Union, and today's newly industrializing countries. Adopting approaches drawn from evolutionary economics, Dr von Tunzelmann links micro-level phenomena relating to individual firms and technologies to macro-level outcomes as reflected in economic growth and development. This long-awaited book is exceptional both in the range of countries surveyed and the breadth of topics analysed, encompassing changes in production processes, products and marketing, management and finance. |
| economic growth rates in follower countries: Macroeconomics, fifth edition Robert J. Barro, 1997-10-20 Robert Barro's Macroeconomics has become the classic textbook presentation of the equilibrium approach to macroeconomics. In its first four editions, this book has shown undergraduates how market-clearing models with strong microeconomic foundations can be used to understand real-world phenomena and to evaluate alternative macroeconomic policies. Moreover, a single, unified framework works as well for short-term business fluctuation as for long-term economic growth. This latest edition includes the most recent theoretical and empirical developments in economic growth, recent evidence on the macroeconomics of labor markets and public finance, and up-to-date results on the interplay between nominal and real variables. |
| economic growth rates in follower countries: Systemic Transformation, Trade and Economic Growth Natalja von Westernhagen, 2012-12-06 Since the late 1980s and the beginning of the 1990s, the Commonwealth of Independent States (CIS) and Central and Eastern European Countries (CEECs) have been involved in the transition process. This book compares the progress of some of these economies in transition and analyses their growth potential. The focus lies on the special role that foreign trade liberalisation and foreign direct investment plays in economic growth. Since foreign trade and foreign direct investment are important channels of technology transfer they can substantially contribute to a higher level of economic growth. Based on the gravity model this book investigates potential in foreign trade and foreign direct investment for selected CIS and CEECs with developed OECD economies. Policy options for some of these countries are discussed including issues of foreign trade, foreign direct investment, structural adjustment, and economic growth. |
| economic growth rates in follower countries: Handbook on the Globalization of the World Economy Amnon Levy-Livermore, 1998-01-01 '. . . it offers expanded coverage of issues from pure international economics to certain aspects of political economy. . . . the present book is a fine work and certainly makes a valuable contribution to the growing list of books addressing globalization. Students of globalization and last but not least practitioners and politicians, as well as diplomats working in international organizations, can learn from it.' – Marjan Svetlicic, Journal of International Relations and Development This authoritative Handbook provides a thorough account and analysis of the important issues relating to the globalization of the international economy. The increasing interdependence of the world's economies has caused a breakdown in national economic boundaries and a freer access to goods, services and labour. This comprehensive book, written by experts in the field, addresses major issues associated with this international economic integration. This reference work considers: • global growth including inequality, saving, foreign direct investment, external debt and multinational corporations • regionalization and globalization of trade such as the role of international institutions, external economies of scale and trading blocs • transition to market economies in Central and Eastern Europe, the former Soviet Union and East Asia • internationalization and integration of markets including the financial, capital, labour and agricultural markets • global environmental and resource problems including transboundary pollution, the implication of North-South trade for natural resource depletion and environmental degradation, and the impact of energy markets on global growth, pollution and economic stability. |
| economic growth rates in follower countries: Unequal Development and Capitalism Adalmir Antonio Marquetti, Alessandro Miebach, Henrique Morrone, 2024-06-03 Unequal development has been a defining characteristic of capitalism. Throughout history, countries and regions have exhibited differences in labor productivity growth – a key determinant in poverty reduction and development – and although some nations may catch up with the productivity levels or well-being of developed economies at times, others fall behind. This book explores these processes of catching up and falling behind of developing countries from Asia, Latin America, Central and Eastern Europe, and Africa in relation to the US economy from 1970 to 2019. The research presented in this book integrates a historical interpretation of post-World War II capitalism with economic theory and empirical analysis. By exploring the historical experiences of these countries, the book provides an overview of their economic transformations. The interplay between technical change, profit rate and capital accumulation, on one hand, and institutional change, on the other, are combined to explain the dynamics of catching up or falling behind in labor and capital productivities. Furthermore, the book provides, from the perspective of developing countries, fundamental lessons for the implementation of successful strategies for catching up and development. This book is a major resource for readers interested in economic growth and development, heterodox macroeconomics, development economics, and related areas. |
| economic growth rates in follower countries: The Political Economy of the New Asian Industrialism Frederic C. Deyo, 2018-08-06 The newly industrializing countries (NICs) of East Asia have undergone rapid economic expansion over the past twenty vears. Unlike NICs elsewhere in the Third World, those in the Pacific basin-South Korea, Taiwan, Singapore, and Hong Kong-have managed to achieve almost full employment, a relatively egalitarian distribution of income, and the virtual elimination or poverty. In this collection of essays, nine development specialists explore the Asian NICs' exceptional ability to capitalize on the favorable economic environment of the 1960s and then to adapt flexibly to worsening conditions in the 1970s and 1980s. |
| economic growth rates in follower countries: Principles of Economics for a Post-Meltdown World John Komlos, 2016-01-16 This brief emphasizes the ways in which introductory economics textbooks incorrectly rely on assumptions about the free market, the rational agent model, market fundamentalism, and standard long-standing assumptions in economics, and in doing so disregard the effects of incomplete and asymmetric information on choice and on allocation, and maintain a general but flawed belief that competitive markets can always provide efficient solutions automatically. In other words, the standard economics principles textbook is anachronistic, they assume that tastes are exogenous, they overlook interdependencies and externalities not only in production but in consumption of goods, and they overlook the fact that path-dependence is a major hindrance to optimization. Mainstream principles of economics textbooks distort our worldview with immense political and cultural consequences. Students of these principles deserve a more complete perspective, and this brief critiques that conventional worldview and provides an alternative perspective, with an emphasis on free-market economics wherein the human element should be paramount and moral judgments should override market outcomes. In other words, what is important is not GNP as much as the quality of life, not institutions but how people live and fare in them. This brief argues that economics cannot be a science; it has too many ideological aspects, and in many ways conventional textbooks are not providing a true-to-life depiction of the economy. This Brief will be a reference or supplemental text for college and university students enrolled in such applied undergraduate and graduate courses and seminars in economics and economic theory. |
Publications | World Economic Forum
4 days ago · The World Economic Forum publishes a comprehensive series of reports which examine in detail the broad range of global issues it seeks to address with stakeholders as …
The Future of Jobs Report 2025 | World Economic Forum
Jan 7, 2025 · General economic slowdown, to a lesser extent, also remains top of mind and is expected to transform 42% of businesses. Inflation is predicted to have a mixed outlook for net …
Chief Economists Outlook: May 2025 | World Economic Forum
May 28, 2025 · The May 2025 Chief Economists Outlook explores key trends in the global economy, including the latest outlook for growth, inflation, monetary and fiscal policy. It …
Davos 2025: What to expect and who's coming? | World …
Dec 9, 2024 · The 2025 Annual Meeting of the World Economic Forum takes place from 20-24 January in Davos, Switzerland. The meeting convenes under the title Collaboration for the …
US trade policy turmoil shakes the global economy, and other key ...
Apr 15, 2025 · A new UN report warned that many countries in the Asia-Pacific region remain ill-prepared for climate-related economic shocks. The IMF-World Bank Spring Meetings are fast …
The World Economic Forum
5 days ago · Learn about World Economic Forum's latest work and impact through the latest key messages on our Homepage.
5 economists on long-term economic trends | World Economic …
Apr 15, 2025 · The economic divisions have only been heightening in recent months as the US has implemented steep tariffs on major trading partners, kicking off a cycle of tit-for-tat trade …
Chief Economists Warn Global Growth Under Strain from Trade …
May 28, 2025 · Artificial intelligence (AI) is poised to drive the next wave of economic transformation, unlocking significant growth potential but also introducing serious risks. Nearly …
Global Risks Report 2025 | World Economic Forum
Jan 15, 2025 · The 20th edition of the Global Risks Report 2025 reveals an increasingly fractured global landscape, where escalating geopolitical, environmental, societal and technological …
World Economic Forum Announces Governance Transition
Apr 21, 2025 · The Board of Trustees of the World Economic Forum underlines the importance of remaining steadfast in its mission and values as a facilitator of progress. Building on its trusted …
Economic Growth and Technology Diffusion - lup.lub.lu.se
economic growth is whether per capita income in different countries is converging or not. It was found that poorer countries, like Italy and Japan closed the gap to the richer countries like the …
IN SEARCH OF THE HOLY GRAIL: POLICY CONVERGENCE,
scholars and policy makers on what constitutes desirable economic policies to promote growth and development. Yet economic performance is more heterogeneous across the world than it …
ECONOMIC GROWTH - ecourse.auca.kg
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 …
Low Interest Rates, Market Power, and Productivity Growth*
on industry market structure and productivity growth. This study provides a new theoretical insight that ultra-low interest rates can be contractionary through their negative impact on industry …
KNOWLEDGE, TECHNOLOGICAL CATCH-UP - Economic …
(Gerschenkron, 1962:9). Thus, in reality, by the time the follower countries transfer and use the existing technology, the leader country moves forward to some new technological frontiers …
FRBSF ECONOMIC LETTER - Federal Reserve Bank of San …
stock of a follower is sufficiently low,this kind of process implies that productivity growth in the fol-lower country may never catch up with the leader. Using data on productivity growth rates for a …
A Classical-Marxian Growth Model of Catching Up and the …
This article proposes a growth model in the classi cal-Marxian tradition in which capital accu-mulation and its determinants play a central role in the processes of catching up and falling …
What is economic growth? - McKinsey & Company
Growth is good: personal growth, portfolio growth, and economic growth too. But measuring economic growth for an entire country is a lot harder than knowing whether you have more …
The empirics of economic growth over time and across
Vol.:(0123456789)
Do Trade Patterns and Technology Flows Affect …
ports primarily from follower countries. The importance of trade patterns in determin- ... nomic growth across countries. The important complementary role of techno-logical diffusion in …
Cross-country technology gap in Latin America: Growth …
A macro-based economic model of innovator and follower countries is employed to explore the linkage between technology gaps and innovations, labor productivity, trade openness, foreign
EndogenousEconomicInstitutionsandPersistentIncome …
growth policies than the voters in the other high income countries, and this prevents the other high income countries from catching up to the United States. The model developed in this paper …
Technological Diffusion, Convergence, and Growth
plays in the neoclassical model. The comparison of growth rates across countries reflects the conditional convergence behavior related to the costs of copying inventions. Thus, the cross …
The Worldwide Standard of Living Since 1800 - American …
countries.4 The rate of improvement has risen noticeably over time. This is hinted at by comparison of the before-and-after growth rates of the three “follower” countries in 3 More …
The Statistical Underestimation of Structural Modernisation in …
Europe's golden age saw unprecedented GDP per capita growth rates. 1 The ... While originally a corollary of the Solow model of economic growth, convergence's ... productivity level of 15 …
Scientific Production Convergence: An Empirical - JSTOR
the economic policies of developed and emerging countries (Coccia et al. 2015). The importance of innovation as well as diffusion and imitation of advanced for-eign technologies for economic …
Human Capital and Economic Growth: Pakistan, 1960-2003
contribution to economic growth. JEL Classification: C13, C22, C51, O15, O53 Keywords: Human Capital, Economic Growth, Cointegration, Pakistan 1. Introduction Human capital plays a key …
The great transformer: The impact of the Internet on …
economic growth and prosperity. THE INTERNET IS DRIVING ECONOMIC GROWTH From an obscure network of researchers and technology experts three decade ago, the Internet has …
The coming fallout following China s condensed development …
economic growth. Compared to leader countries, follower countries generally industrialize over a much shorter time period. The later the country begins, the shorter the time period it uses to …
Factors Affecting Economic Growth in Developing Countries
trade and economic growth. Kavoussi (1984) found that higher rates of economic growth were strongly correlated with higher rates of export growth. He found that the positive correlation …
Does an increase in education quality cause developing …
Abstract: We investigate whether increasing the education quality causes increases in economic growth allowing poorer countries to catch up. To this end, we extend Nelson-Phelps’s classic …
Driving Forces of Economic Growth - JSTOR
410 SimonKuznets tosectoralstructureandshifts;butexcludecaseswheresuchrisewasdue largely to naturalresources made valuablebyadvancedtechnology elsewhere ...
Global Innovation Tracker What is the current state of ... - WIPO
Economic growth is projected to slow but remain positive in 2023.1 Persistent efforts in ... countries were single-handedly responsible for avoiding a global decline in R&D that year. …
Seven centuries of European economic growth and decline
the likelihood of being in a phase of economic growth and reduced the risk of being in a phase of economic decline. JEL codes: N13, O11, E01 Keywords: History of Economic Development, …
Long-Term Growth in Developing Countries - World Bank
What can we learn from the LTGM about growth? Five takeaways 1. Growth performances, constraints and opportunities are heterogeneous 2. Investment-led growth strategies are …
Growth and productivity: a model of cumulative growth and …
the chief stylised facts of comparative economic growth. A pooled, cross-section, ... or follower, countries toward the more advanced or leader countries ... the faster one expects the …
EndogenousEconomicInstitutionsandPersistentIncome …
growth policies than the voters in the other high income countries, and this prevents the other high income countries from catching up to the United States. The model developed in this paper …
Integrating Food and Nutrition Security into Economic …
sector growth has stagnated at 3 percent. The economic growth is mainly attributed to service, construction and manufacturing whose growth rates have exceeded 6 percent. Hence, it is …
Economics of Science & Technology Leadership - Questrom …
debates remain about the specific forms and parameters of ideas-driven models of economic and productivity growth, there is broad consensus that the factors emphasized by ideas-driven …
The Statistical Underestimation of Structural Modernisation in …
While originally a corollary of the Solow model of economic growth, convergence's ... productivity level of 15 "follower" countries to have fallen from 0.5 to 0.15. See: Abramovitz, Moses. …
Does an increase in education quality cause developing …
Does an increase in quality of education cause increases in economic growth? 395 3 Theoretical background 3.1 Literature review Human capital can be defined as “the set of intangible …
General Purpose Technologies and Economic Growth:
rate of economic growth will be an outcome of the stock of GPTs at different stages ... that follower countries can accelerate the benefits of using the new technology. We show below …
Human Capital and Economic Growth: Pakistan, 1960-2003
contribution to economic growth. JEL Classification: C13, C22, C51, O15, O53 Keywords: Human Capital, Economic Growth, Cointegration, Pakistan 1. Introduction Human capital plays a key …
The role of intellectual property rights in a directed technical …
state growth rate is ambiguous, depending on the substitutability.Theoretical results are also influenced by labor movements and are confirmed by a calibrated exercise for 11 de …
Patent Rights, Product Market Reforms, and Innovation
act as complementary inputs to innovation and growth, are at odds with what early endoge-nous growth models would predict (e.g., Romer, 1990, and Aghion and Howitt, 1992). In these …
Economic Growth and Technology Diffusion - Lu
economic growth is whether per capita income in different countries is converging or not. It was found that poorer countries, like Italy and Japan closed the gap to the richer countries like the …
I Stylized and simulated long-run economic development
the era of modern economic growth starting in 1820 was a tremendous acceleration in technical progress. The average rate of increase of labor productivity of the OECD countries for the …
Catching Up or Standing Still? National Innovative …
historically in the factors that lead to differential growth rates across countries. Our approach is somewhat eclectic, as we draw on a set of related research in developing a framework for …
Asymmetric Growth and Institutions in an Interdependent …
Aug 30, 2017 · frontier is already being pushed forward by advanced economies, while innovation by the technology leader(s), given its impact on the world …
Riding the Elephants: The Evolution of World Economic …
Economic Growth and Income Distribution at ... which suggests important advantages to being a follower, rather than a leader, and ... richer countries with lower marginal rates of return (Solow ...
The Facts of Economic Growth - Stanford University
The Facts of Economic Growth C.I. Jones Stanford GSB, Stanford, CA, United States NBER, Cambridge, MA, United States Contents 1. Growth at the Frontier 5 1.1 Modern Economic …
Asia and South America: A Quasi-Common Economy Approach
tion or increase of growth rates in follower economies; and (iii) large investments by a leading goose country aiding growth rates in follower countries (Amsden 1991). The FG process of …
Nonlinear Effects of Human Capital on TFP: Evidence from …
Journal of Economic Cooperation and Development 127 growth path. However, Basu and Well (1998) argued that absolute convergence for those followers may not be valid, for advances in
General Purpose Technologies and Economic Growth:
that follower countries can accelerate the benefits of using the new technology. We show below that the quantitative evidence suggests that the US maintained its leadership position …
Export-led Growth and Economic Development of South …
for follower countries like Kyrgyzstan. On this background it is necessary for Kyrgyz Republic to follow Korean ... Republic of Korea, the so called Four Tigers, have been successful in …
ASEAN Pharma Report: opportunities & threats 2020 and …
potential to support generics-led export growth strategies. Growing Focus on R&D Governments are beginning to recognise the need for innovation across key sectors to sustain their …
Globalization and Patterns of Economic Development
compared with the population growth of 2.6 percent per year, implying a decline of 0.2 percent per year in per capita GDP. See Sachs and Warner (1995) for a detailed comparison of trade …
Human Capital, Difussion Model, And Endogenous Growth: …
Economic growth is undoubtedly an interesting issue in the last several decades, even up to now. Lipsey et al. (2005) stated the reason why many economists often focus on economic
Catch-Up and Lagging Behind in MENA Countries
the convergence and catch-up in MENA countries, shedding light on the factors driving the catch-up. 2. Materials and Methods The first section of the methodology was to clarify the distinction …
Enhancing the development of the ASEAN markets
ASEAN Region: A Diverse Region with Rapid Economic Growth and A Rising Middle Class ASEAN is a diverse region with variation across countries in terms of population. Indonesia …
