Capital Accumulation and Economic Growth in a Small Open Economy (The CICSE Lectures in Growth and Development) - Softcover

Turnovsky, Stephen J.

Softcover

ISBN 10: 0521187524 ISBN 13: 9780521187527

Publisher: Cambridge University Press, 2011

Synopsis

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.

About this title

Book Description

Economic growth is an issue of primary concern to policy makers in both developed and developing economies. 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.

About the Author

Stephen J. Turnovsky is Castor Professor of Economics, University of Washington. He is a fellow of the Econometric Society and a past president of the Society of Economic Dynamics and Control, of the International Economics and Finance Society, and of the Society for Computational Economics.

Edition details

• Publisher: Cambridge University Press
• Publication date: 2011
• Language: English
• ISBN 10: 0521187524
• ISBN 13: 9780521187527
• Binding: Paperback
• Number of pages: 254