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The Practice of Economic Growth

The Practice of Economic Growth
Author: Keng Swee Goh
Publisher: Cavendish Square Publishing
Total Pages: 300
Release: 2004
Genre: Business & Economics
ISBN:

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The importance of fast economic growth in developing countries has been an undeniable fact since the early 1970s. Today its significance is even greater as these emerging centres are eagerly sought as bases for economic expansion by developed nations. Singapore, in its rise from a struggling colony to its present status as an economic success, offers a glimpse of the factors that contribute to the growth of a thriving economy. Widely acknowledged as the architect of Singapore's economic growth, Dr Goh Keng Swee describes Singapore's experience, which confirms some of the conventional wisdom of growth theory but refutes much of the rest. Examining the social and economic lessons learnt by Singapore, Dr Goh notes that the role of the government and non-economic factors are pivotal to the development of a secure, confident nation. Speaking not as a theoretician, but as a practitioner, Dr Goh assesses how far theories conform with practice in the real world. This book is a collection of Dr Goh's essays during his years as Singapore's Minister of Defence. Besides his speeches on defence, Dr Goh explores sociological and economic issues extensively. These essays illustrate how the experienced practitioner, by venturing beyond the well-trodden paths and overcoming seemingly intractable problems, had helped Singapore achieve the benefits of economic growth and, thereby, a true national unity. This re-issue is part of the Singapore Economics History Collection and features a new Foreword by Professor Chua Beng Huat of National University of Singapore.


The 4% Solution

The 4% Solution
Author: The Bush Institute
Publisher: Crown Currency
Total Pages: 370
Release: 2012-07-17
Genre: Business & Economics
ISBN: 0307986152

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Foreword by President George W. Bush With contributions from world renowned economists and Nobel prizewinners, The 4% Solution is a blueprint for restoring America’s economic health The United States is reaching a pivotal point in its economic history. Millions of Americans owe more on their homes than they are worth, long-term unemployment is alarmingly high, and the Congressional Budget Office is projecting a sustainable growth rate of only 2.3%—a full percentage point below the average for the past sixty years. Unless a turnaround comes quickly, the United States could be mired in debt for years to come and millions of Americans will be pushed to the sidelines of the economy. The 4% Solution offers clear and unflinching ideas on how to revive America’s economy. It sets a positive economic goal and asks some of the top economic minds on how to achieve it. With a focus on removing government constraints, The 4% Solution defines the policies that will allow Americans to save, invest, and create the jobs that the United States needs. The 4% Solution draws on the best minds in the business, including five Nobel laureates: · Robert E. Lucas, Jr., on the history and future of economic growth · Gary S. Becker on why we need immigrants in order to grow · Edward Prescott on the cost (to growth) of the welfare state · Vernon Smith on why housing leads us into and out of recessions · Myron Scholes on why we need to innovate in order to grow the economy


Economic Growth

Economic Growth
Author: David N. Weil
Publisher: Prentice Hall
Total Pages: 556
Release: 2012-06-29
Genre: Business & Economics
ISBN: 9780321795731

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Why are some countries rich and others poor? David N. Weil, one of the top researchers in economic growth, introduces students to the latest theoretical tools, data, and insights underlying this pivotal question. By showing how empirical data relate to new and old theoretical ideas, Economic Growth provides readers with a complete introduction to the discipline and the latest research.


Development Economics

Development Economics
Author: Alain de Janvry
Publisher: Routledge
Total Pages: 573
Release: 2021-05-30
Genre: Business & Economics
ISBN: 1000378535

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This second edition of Development Economics: Theory and Practice continues to provide students and practitioners with the perspectives and tools they need to think analytically and critically about the current major economic development issues in the world. Alain de Janvry and Elisabeth Sadoulet identify seven key dimensions of development—growth, poverty, vulnerability, inequality, basic needs, sustainability, and quality of life—and use them to structure the contents of the text. The book gives a historical perspective on the evolution of thought in development. It uses theory and empirical analysis to present readers with a full picture of how development works, how its successes and failures can be assessed, and how alternatives can be introduced. The authors demonstrate how diagnostics, design of programs and policies, and impact evaluation can be used to seek new solutions to the suffering and violence caused by development failures. In the second edition, more attention has been given to ongoing developments, such as: pursuit of the Sustainable Development Goals continuously rising global and national inequality health as a domestic and international public good cash transfers for social protection carbon trading for sustainability This text is fully engaged with the most cutting-edge research in the field and equips readers with analytical tools for impact evaluation of development programs and policies, illustrated with numerous examples. It is underpinned throughout by a wealth of student-friendly features, including case studies, quantitative problem sets, end-of-chapter questions, and extensive references. Excel and Stata exercises are available as digital supplements for students and instructors. This unique text is ideal for those taking courses in development economics, economic growth, and development policy, and will provide an excellent foundation for those wishing to pursue careers in development.


The Knowledge Capital of Nations

The Knowledge Capital of Nations
Author: Eric A. Hanushek
Publisher: MIT Press
Total Pages: 275
Release: 2023-08-15
Genre: Business & Economics
ISBN: 026254895X

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A rigorous, pathbreaking analysis demonstrating that a country's prosperity is directly related in the long run to the skills of its population. In this book Eric Hanushek and Ludger Woessmann make a simple, central claim, developed with rigorous theoretical and empirical support: knowledge is the key to a country's development. Of course, every country acknowledges the importance of developing human capital, but Hanushek and Woessmann argue that message has become distorted, with politicians and researchers concentrating not on valued skills but on proxies for them. The common focus is on school attainment, although time in school provides a very misleading picture of how skills enter into development. Hanushek and Woessmann contend that the cognitive skills of the population—which they term the “knowledge capital” of a nation—are essential to long-run prosperity. Hanushek and Woessmann subject their hypotheses about the relationship between cognitive skills (as consistently measured by international student assessments) and economic growth to a series of tests, including alternate specifications, different subsets of countries, and econometric analysis of causal interpretations. They find that their main results are remarkably robust, and equally applicable to developing and developed countries. They demonstrate, for example, that the “Latin American growth puzzle” and the “East Asian miracle” can be explained by these regions' knowledge capital. Turning to the policy implications of their argument, they call for an education system that develops effective accountability, promotes choice and competition, and provides direct rewards for good performance.


Economic Growth in Theory and Practice

Economic Growth in Theory and Practice
Author: R. Sundrum
Publisher: Springer
Total Pages: 311
Release: 1990-08-06
Genre: Business & Economics
ISBN: 0230376819

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The book describes the practical process of economic growth both in developed and less developed countries, and presents a unified theory of growth from the earliest stages to the most advanced. Central to the theory is the structural transformation which is associated with the growth process. This structural transformation is used to explain the logistic pattern that economic growth has followed in the real world. Within this logistic pattern, growth performance is explained both in terms of supply factors and demand factors, and the interaction between them. The influence of inflation and income distribution on economic growth is also discussed.


Economics In Practice: Evidence-based Policymaking In Singapore

Economics In Practice: Evidence-based Policymaking In Singapore
Author: Ming Leong Kuan
Publisher: World Scientific
Total Pages: 351
Release: 2021-12-10
Genre: Political Science
ISBN: 9811250030

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Singapore is recognised to be one of the most successful economies in the world given its rapid economic and social transformation. Its success is the result of a judicious blend of markets and government, high-quality governance, and public policies that are coherent, consistent and coordinated.This book showcases the contribution of Economics to Singapore's public policymaking. To illustrate the diverse areas that economic analysis has contributed to, this book comprises three sections that span the economic and non-economic policy domains in Singapore. Section I covers economic policies relating to economic growth, trade, investments, productivity, innovation, industrial development, the enterprise landscape and manpower. Section II highlights socioeconomic and security policies, and covers themes such as income inequality and mobility, families, healthcare costs and crime. In Section III, the focus is on infrastructural policies relating to the environment, housing and land transport.This book commemorates the 20th anniversary of the Singapore Government's Economist Service. As the premier service for economists in the Singapore public sector, the Economist Service plays an integral role in supporting evidence-based policymaking through rigorous economic research and analysis of public policies.


Economic Growth

Economic Growth
Author: Furkan Beşel
Publisher: Cambridge Scholars Publishing
Total Pages: 160
Release: 2019-01-08
Genre: Business & Economics
ISBN: 1527524604

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Today, the average person in the world lives a more comfortable life compared to the richest people in the last century and, in fact, their life is more comfortable than even the kings of the previous centuries. We owe this situation first and foremost to the high growth rates that gained momentum after the industrial revolution. Although high welfare level is not dependent upon economic growth alone, it is a prerequisite for welfare. Nobody craves equality in poverty. In this book, in addition to the theoretical development of economic growth, the sources and potential effects of economic growth have been analysed using various methods. As such, it will serve as an essential reference work for researchers and policy makers.


Understanding Local Economic Development

Understanding Local Economic Development
Author: Emil Malizia
Publisher: Routledge
Total Pages: 282
Release: 2020-10-05
Genre: Science
ISBN: 1000193993

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This book offers insights into the process and the practice of local economic development. Bridging the gap between theory and practice it demonstrates the relevance of theory to inform local strategic planning in the context of widespread disparities in regional economic performance. The book summarizes the core theories of economic development, applies each of these to professional practice, and provides detailed commentary on them. This updated second edition includes more recent contributions - regional innovation, agglomeration and dynamic theories – and presents the major ideas that inform economic development strategic planning, particularly in the United States and Canada. The text offers theoretical insights that help explain why some regions thrive while others languish and why metropolitan economies often rise and fall over time. Without theory, economic developers can only do what is politically feasible. This text, however, provides them with a logical tool for thinking about development and establishing an independent basis from which to build the local consensus needed for evidence-based action undertaken in the public interest. Offering valuable perspectives on both the process and the practice of local and regional economic development, this book will be useful for both current and future economic developers to think more profoundly and confidently about their local economy.


Economic Growth Theory

Economic Growth Theory
Author: Wei-Bin Zhang
Publisher: Routledge
Total Pages: 394
Release: 2018-01-18
Genre: Business & Economics
ISBN: 1351159429

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This book develops a new theoretical framework to examine the issues of economic growth and development. Providing analysis of economic dynamics in a competitive economy under government intervention in infrastructure and income distribution, the book develops a unique analytical framework under the influence of traditional neoclassical growth theory. However, in a departure from neoclassical growth theory it examines both the Solow-Swan and the Ramsey growth models, introducing a utility function which treats consumer choices in ways critically different to previous approaches. Using practical examples and models the book demonstrates how this new direction can effectively analyze the key issues of economic growth, in a compact and comprehensive manner.