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Capital Accumulation and Economic Growth in a Small Open Economy

$37.99

Part of The CICSE Lectures in Growth and Development

  • Date Published: February 2011
  • availability: Available
  • format: Paperback
  • isbn: 9780521187527

$37.99
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About the Authors
  • Economic growth is an issue of primary concern to policy makers in both developed and developing economies. As a consequence, growth theory has long occupied a central role in economics. In this book, renowned growth theorist Stephen J. Turnovsky investigates the process of economic growth in a small open economy, showing that it is sensitive to the productive structure of the economy. The book comprises three parts, beginning with models where the only intertemporally viable equilibrium is one in which the economy is always on its balanced growth path. Empirical evidence suggests relatively slow speeds of convergence so the second part of the book looks at several alternative ways in which transitional dynamics may be introduced. In the third and final part, the author applies the growth model to the issue of foreign aid, focusing specifically on whether aid should be untied or tied to the accumulation of public capital.

    • Written by one of the world's most respected economists
    • All models are presented with consistent notation and in a coherent manner, which makes the book easy for readers to follow
    • Serves as a useful reference for graduate students and researchers working in the area of growth theory and international macroeconomics
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    Product details

    • Date Published: February 2011
    • format: Paperback
    • isbn: 9780521187527
    • length: 254 pages
    • dimensions: 229 x 152 x 14 mm
    • weight: 0.35kg
    • availability: Available
  • Table of Contents

    List of figures
    List of tables
    Preface
    1. Introduction and brief overview
    Part I. Models of Balanced Growth:
    2. Basic growth model with fixed labor supply
    3. Basic growth model with endogenous labor supply
    Part II. Transitional Dynamics and Long-run Growth:
    4. Transitional dynamics and endogenous growth in one-sector models
    5. Two-sector growth models
    6. Non-scale growth models
    Part III. FOREIGN AID, CAPITAL ACCUMULATION and ECONOMIC GROWTH:
    7. Basic model of foreign aid
    8. Foreign aid, capital accumulation, and economic growth: some extensions
    References
    Index.

  • Author

    Stephen J. Turnovsky, University of Washington

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