EAN: 9783319897547

ECONOMIC GROWTH AND DEVELOPMENT - SIBABRATA DAS...

This text is an introduction to the newer features of growth theory that are particularly
useful in examining the issues of economic development. Growth theory provides a rich and
versatile analytical framework through which fundamental questions about economic development
can be examined. Structural transformation  in which developing countries transition from
traditional production in largely rural areas to modern production in largely urban areas  is
an important causal force in creating early economic growth  and as such  is made central in
this approach. Towards this end  the authors augment the Solow model to include endogenous
theories of saving  fertility  human capital  institutional arrangements  and policy formation
creating a single two-sector model of structural transformation. Based on applied research and
practical experiences in macroeconomic development  the model in this book presents a more
rigorous  quantifiable  and explicitly dynamic dual economy approach to development. Common
microeconomic foundations and notation are used throughout  with each chapter building on the
previous material in a continuous flow. Revised and updated to include more exercises for
guided self study  as well as a technical appendix covering required mathematical topics beyond
calculus  the second edition is appropriate for both upper undergraduate and graduate students
studying development economics and macroeconomics.

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