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Structural Dynamics and Economic Growth

Structural Dynamics and Economic Growth
Author: Richard Arena
Publisher: Cambridge University Press
Total Pages: 309
Release: 2012-05-03
Genre: Business & Economics
ISBN: 1107015960

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Ever since Adam Smith, economists have been preoccupied with the puzzle of economic growth. The standard mainstream models of economic growth were and often still are based either on assumptions of diminishing returns on capital with technological innovation or on endogenous dynamics combined with a corresponding technological and institutional setting. An alternative model of economic growth emerged from the Cambridge School of Keynesian economists in the 1950s and 1960s. This model - developed mainly by Luigi Pasinetti - emphasizes the importance of demand, human learning and the growth dynamics of industrial systems. Finally, in the past decade, new mainstream models have emerged incorporating technology or demand-based structural change and extending the notion of balanced growth. This collection of essays reassesses Pasinetti's theory of structural dynamics in the context of these recent developments, with contributions from economists writing in both the mainstream and the Cambridge Keynesian traditions and including Luigi Pasinetti, William Baumol, Geoffrey Harcourt and Nobel laureate Robert Solow.


Structural Economic Dynamics

Structural Economic Dynamics
Author: Luigi Pasinetti
Publisher: Cambridge University Press
Total Pages: 212
Release: 2006-11-02
Genre: Business & Economics
ISBN: 9780521029766

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This book is a theoretical investigation of the influence of human learning on the development through time of a 'pure labour' economy. The theory proposed is a simple one, but aims to grasp the essential features of all industrial economies. Economists have long known that two basic phenomena lie at the root of long-term economic movements in industrial societies: capital accumulation and technical progress. Attention has been concentrated on the former. In this book, by contrast, technical progress is assigned the central role. Within a multi-sector framework, the author examines the structural dynamics of prices, production and employment (implied by differentiated rates of productivity growth and expansion of demand) against a background of 'natural' relations. He also considers a number of institutional problems. Institutional and social learning, know-how, and the diffusion of knowledge emerge as the decisive factors accounting for the success and failure of industrial societies.


Structural Change and Economic Growth

Structural Change and Economic Growth
Author: Luigi L. Pasinetti
Publisher: CUP Archive
Total Pages: 308
Release: 1981-04-16
Genre: Business & Economics
ISBN: 9780521236072

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This book presents an original theoretical treatment of the problems of maintaining full employment in a multisector economic system


Resources, Production and Structural Dynamics

Resources, Production and Structural Dynamics
Author: Mauro L. Baranzini
Publisher: Cambridge University Press
Total Pages: 521
Release: 2015-04-30
Genre: Business & Economics
ISBN: 1107079098

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New approach to the economic theory of resources, showing the positive role that scarcities can play in triggering economic growth.


Resources, Production and Structural Dynamics

Resources, Production and Structural Dynamics
Author: Mauro L. Baranzini
Publisher:
Total Pages: 522
Release: 2015
Genre: Economic history
ISBN: 9781316329825

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New approach to the economic theory of resources, showing the positive role that scarcities can play in triggering economic growth.


Structural Change and Economic Growth

Structural Change and Economic Growth
Author: Luigi L. Pasinetti
Publisher: Cambridge University Press
Total Pages: 336
Release: 1981-04-16
Genre: Business & Economics
ISBN: 9780521236072

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First published in 1981 this book presents an original theoretical treatment of the problems of maintaining full employment in a multisector economic system with a growing population and different rates of technical progress in different sectors. The conditions for full employment and full capacity utilisation are examined when prices are stable and when there is inflation. This approach is carried out, not in terms of input-output relations, as has become customary in multisector models, but rather in terms of vertically integrated sectors. This makes it possible to analyse the economic growth process in terms of the structural dynamics of production, of prices and of employment. Remarkable implications are drawn for a surprisingly large number of theoretical problems, which have been under discussion since Adam Smith: from price theory to the theory of rates of profit and the rates of interest; from production theory to the theories of fluctuating growth, ever-changing composition of output, choice of technique and international trade.


Beyond Reforms

Beyond Reforms
Author: Jose Antonio Ocampo
Publisher: World Bank Publications
Total Pages: 254
Release: 2005-07-15
Genre: Business & Economics
ISBN: 9780821358207

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'Beyond Reforms' argues that economic growth in developing countries is intrinsically tied to the dynamics of production structures, to the specific policies and institutions created to support it, and the creation of linkages among domestic firms and sectors. Avoiding macroeconomic instability is also essential. However, macroeconomic stability is not a sufficient condition for growth. The broader institutional context and the adequate provision of education and infrastructure are essential 'framework conditions,' but generally do not play a direct role in bringing about changes in the momentum of economic growth.


Growth and Structural Transformation

Growth and Structural Transformation
Author: Kwang Suk Kim
Publisher: BRILL
Total Pages: 224
Release: 2020-03-17
Genre: History
ISBN: 1684172195

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This study provides a comprehensive overview of Korea’s macroeconomic growth and structural change since World War II, and traces some of the roots of development to the colonial period. The authors explore in detail colonial development, changing national income patterns, relative price shifts, sources of aggregate growth, and sources of sectoral structural change, comparing them with other countries.


Efficiency, Finance, and Varieties of Industrial Policy

Efficiency, Finance, and Varieties of Industrial Policy
Author: Akbar Noman
Publisher: Columbia University Press
Total Pages: 527
Release: 2016-11-29
Genre: Business & Economics
ISBN: 0231542771

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Industrial policy, once relegated to resource allocation, technological improvements, and the modernization of industries, should be treated as a serious component of sustainability and developmental economics. A rich set of complimentary institutions, shared behavioral norms, and public policies have sustained economic growth from Britain's industrial revolution onwards. This volume revisits the role of industrial policy in the success of these strategies and what it can offer developed and developing economies today. Featuring essays from experts invested in the expansion of industrial policies, topics discussed include the most effective use of industrial policies in learning economies, development finance, and promoting investment in regional and global contexts. Also included are in-depth case studies of Japan and India's experience with industrial policy in the banking and private sector. One essay revisits the theoretical and conceptual foundations of industrial policy from a structural economics perspective and another describes the models, packages, and transformation cycles that constitute a variety of approaches to implementation. The collection concludes with industrial strategies for facilitating quality growth, realizing more sustainable manufacturing development, and encouraging countries to industrialize around their natural resources.