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Growth Theory and Sustainable Development - Lucas Bretschger

Growth Theory and Sustainable Development

Hardcover ISBN: 9781840641356
Number Of Pages: 264

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Bretschger (U. of Greifswald, Germany) begins his examination with the standard growth models of the 1950s and 1960s and then extends his analysis to the "new" growth theory, in which the long-term growth rate of an economy is an endogenous variable. The book concludes by evaluating to what extent growth theory is able to explain the international differences in living standards, and considers the issues of sustainable growth under newer environmental regulations.

List of Figuresp. vii
List of Tablesp. ix
List of Variablesp. x
List of Abbreviationsp. xii
Prefacep. xiii
Long-term Development in Perspectivep. 1
Facts and Stylised Facts for Different Countriesp. 1
Methodological Issuesp. 5
History of Growth Theoryp. 8
Growth Theory and Related Fieldsp. 11
Early Approaches to Formal Growth Theoryp. 14
Capacity and Income Effect (Domar Solution)p. 14
Accelerator and Savings Function (Harrod Solution)p. 16
Consequences for Employmentp. 17
Adjustment of the Capital Intensityp. 20
Assessment and Critiquep. 24
The Neo-classical Growth Modelp. 26
Basic Assumptionsp. 26
Derivation of the Steady Statep. 27
Adjustment and Steady-state Growthp. 30
Classification of Technical Progressp. 33
Role of Economic Policyp. 38
Growth Accountingp. 42
Growth Bonusp. 44
Convergencep. 47
Adding the Monetary Sectorp. 53
Intertemporal Optimisationp. 59
Savings Decisionp. 59
Utility of Consumption in Timep. 60
Keynes-Ramsey Rulep. 69
Ramsey-Cass-Koopmans Modelp. 74
Positive Spilloversp. 79
Additional Elements in Growth Theoryp. 79
Constant Returns to Capitalp. 80
Different Kinds of Spilloversp. 85
Constant and Increasing Returns to Scalep. 89
Ingredients of New Growth Theoryp. 92
Endogenous Growth with Different Capital Stocksp. 95
Knowledge Spillovers from Private Investmentsp. 95
Productive Public Servicesp. 101
Human Capitalp. 108
Aggregate Production Function and Capital Flowsp. 115
Research and Developmentp. 120
Characteristics of Researchp. 120
Innovations under Monopolistic Competitionp. 122
A Two-sector Model with Endogenous Growthp. 124
Differentiated Capital Components (Romer Model)p. 140
Extensions of the Modelp. 145
Consequences for Economic Policyp. 151
Open Economyp. 154
Extensions of Trade Theoryp. 154
Scale Effects of Foreign Tradep. 160
Reallocation of Resourcesp. 164
Competitivenessp. 168
Extensionsp. 172
Financial Marketsp. 172
Interdependence Between Business Cycle and Growthp. 176
Multiple Equilibria, Poverty Trapsp. 179
Theory of Evolutionp. 183
Sustainable Developmentp. 187
Natural Environmentp. 187
Sustainabilityp. 188
Different Development Pathsp. 194
Private and Social Discount Ratesp. 196
Natural Resourcesp. 201
Resource Use and Dynamicsp. 201
Negative Externalitiesp. 203
Exhaustible Resourcesp. 211
Renewable Natural Resourcesp. 225
Achieving Sustainabilityp. 232
Endogenous Welfare Increasep. 232
Substitution Policyp. 233
Admitting Structural Changep. 235
Author Indexp. 239
Subject Indexp. 241
Table of Contents provided by Syndetics. All Rights Reserved.

ISBN: 9781840641356
ISBN-10: 1840641355
Audience: Tertiary; University or College
Format: Hardcover
Language: English
Number Of Pages: 264
Publisher: Edward Elgar Publishing Ltd
Country of Publication: GB
Dimensions (cm): 24.13 x 16.51  x 2.54
Weight (kg): 0.54

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