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

Steger, Thomas

ISBN 10: 3540675639 / ISBN 13: 9783540675631

Published by Springer, 2000

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Seller Inventory # ERICA77335406756396

Bibliographic Details

• Title: Transitional Dynamics and Economic Growth in Developing Countries (Lecture Notes in Economics and Mathematical Systems (489))
• Publisher: Springer
• Publication Date: 2000
• Language: English
• ISBN 10: 3540675639
• ISBN 13: 9783540675631
• Binding: Paperback
• Condition: Like New
• Book Type: book

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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.