Download e-book for iPad: Explaining Growth: A Global Research Project by Lyn Squire, G. McMahon Gary McMahon

By Lyn Squire, G. McMahon Gary McMahon

ISBN-10: 1403917469

ISBN-13: 9781403917461

ISBN-10: 1403990107

ISBN-13: 9781403990105

Explaining progress makes an attempt to collect the main complete evaluate of progress in constructing and transition nations. the 1st part has sought to check and observe vast similarities and similar reviews in six areas spanning the constructing global. In each one sector, experiences have been undertaken on assets of progress, markets and development, microeconomic determinants of development, and the political economic system of development. those studies give you the framework for the in-depth state case reviews in section II. This quantity summarizes the most result of the nearby analyses and units the level for the rustic studies.

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Yet this was the focus of one of our four themes. Second, phase 2 of the project will take us into the details of specific countries, something that growth accounting and cross-country regressions typically fail to address. This chapter focuses on the importance of conducting analysis at the level of individual countries. To begin, consider one of the ‘rules’ that typically emerges from both growth accounting and cross-country regressions. 4 The same result emerged from the regional reviews conducted for this study.

The economic recovery since the mid-1990s in most developing regions has been minuscule relative to the requirements for poverty reduction, and for Africa even the best performers are projected to remain very poor in 2020 if present trends continue (Berthelemy and Soderling, 2001). What is the reason for all these disappointing results and what can economists tell us about their causes? From Adam Smith’s seminal Inquiry into the Nature and Causes of the Wealth of Nations (1776), through the neoclassical growth models, development economics, 32 Charles C.

80 per cent output growth for the whole sample. The implication, of course, would be that most of the growth during 1960–94 came from physical capital accumulation. Particularly for the regions with high capital accumulation such as East Asia, the change in income share makes a huge difference in the contribution to growth of capital accumulation. Thus, it may not be appropriate to conduct growth accounting by simply assuming identical income shares across countries as in Collins and Bosworth (1996).

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Explaining Growth: A Global Research Project by Lyn Squire, G. McMahon Gary McMahon


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