Transitional Dynamics and Economic Growth in Developing Countries (Lecture Notes in Economics and Mathematical Systems, 489) - Softcover

Steger, Thomas

 
9783540675631: Transitional Dynamics and Economic Growth in Developing Countries (Lecture Notes in Economics and Mathematical Systems, 489)

Synopsis

Four stylised facts of aggregate economic growth are set up initially. The growth process is interpreted to represent transitional dynamics rather than balanced-growth equilibria. Against this background, the fundamental importance of subsistence consumption is comprehensively analysed. Subsequently, the meaning of the productive-consumption hypothesis for the intertemporal consumption trade-off and the growth process is investigated. Finally, the process of growth is analysed empirically by means of cross-sectional conditional convergence regressions with endogenous control variables.

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9783642457852: Transitional Dynamics and Economic Growth in Developing Countries

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ISBN 10:  3642457851 ISBN 13:  9783642457852
Publisher: Springer, 2012
Softcover