Explaining Economic Growth

Explaining Economic Growth

The author presents a new analytical framework for explaining the different growth performances of developing countries, allowing for a series of policy-oriented conclusions. The book is aimed at both undergraduate and postgraduate level.

Explaining Economic Growth

Explaining Economic Growth

Presented in this volume is a collection of papers on economic growth and its explanations. Part I covers the central issues in the growth accounting tradition. It looks at the contribution of production factors to economic growth, such as capital, education and technical change, and at ultimate causes of growth, such as institutions, historical events and developments or characteristics of the international economic and political order. The papers in Part II deal with country studies of economic growth, presenting the results of recent empirical work and analysing its impact on the interpretation of economic development in these countries. Part III deals with international comparisons of levels of economic performance and real income, and the final section is devoted to economic policy and its effects on growth performance. Different perspectives on economic policy are discussed - Liberal, Keynesian, Marxist and Developmentalist, and the contribution of policy to economic growth or stagnation is assessed. The book is dedicated to Angus Maddison and covers areas which have been central to his work on economic growth.