Sengupta Understanding Economic Growth

Modern Theory and Experience
1. Auflage 2011
ISBN: 978-1-4419-8026-7
Verlag: Springer
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, 120 Seiten

Modern economies have undergone a dramatic change.  There has been a shift from large scale material manufacturing to the design and application of new technology with R&D and human capital.  The new information age has introduced significant productivity gains through increasing returns and learning by doing, which has challenged the traditional growth models based on competitive market structures.  Institutions outside the traditional markets and the genetic principle of survival of the fittest have dominated the current theory of industry growth. This book coordinates and integrates the two strands of economic growth and development: the endogenous theory of growth and the extra-market models of evolutionary economics dominated by innovation efficiency.  It presents this new paradigm in terms of both theory and historical experiences.  The book addresses the role of innovations and human capital, the impact of information technology, the role of institutions as mechanisms of evolutionary economies and the experiences of Asian growth miracles, and will be of interest to readers in economics and political science concerned with economic growth and development.

Autoren/Hrsg.

Sengupta, Jati

Inhaltsverzeichnis

1;Understanding Economic Growth;3
1.1;Preface;7
1.2;Contents;9
1.3;Chapter 1: Development;11
1.3.1;1.1 Economic Growth;14
1.3.2;1.2 Knowledge Capital;16
1.3.3;1.3 Concluding Remarks;17
1.4;Chapter 2: The Market;18
1.4.1;2.1 The Classical Approach;18
1.4.2;2.2 The Neoclassical View;19
1.4.3;2.3 The Modern Approach;20
1.4.4;2.4 The Institutional Approach;21
1.4.5;2.5 The Evolutionary View;23
1.4.6;2.6 Market Expansion and Growth;25
1.5;Chapter 3: Investment;27
1.5.1;3.1 Solow’s Growth Model;28
1.5.2;3.2 Endogenous Growth;29
1.5.3;3.3 Foreign Direct Investment;32
1.5.4;3.4 Investment and Increasing Returns;33
1.6;Chapter 4: Innovation;37
1.6.1;4.1 Growth Miracles;38
1.6.2;4.2 Innovation Models;39
1.6.3;4.3 Innovation Diversity;43
1.6.4;4.4 Innovation Policy;46
1.7;Chapter 5: Diffusion;48
1.7.1;5.1 Technology Transfer;48
1.7.2;5.2 Learning by Doing;50
1.7.3;5.3 Diffusion Models;52
1.7.4;5.4 Incremental Diffusion;54
1.7.5;5.5 Concluding Remarks;57
1.8;Chapter 6: Asian Miracles;58
1.8.1;6.1 China’s Experience;59
1.8.2;6.2 India and China;65
1.8.3;6.3 Taiwan and Korea;68
1.8.4;6.4 Learning by Doing and Efficiency Growth;73
1.9;Chapter 7: Evolutionary Economics;75
1.9.1;7.1 Dynamic Capability and Adaptive Efficiency;76
1.9.2;7.2 Schumpeterian Innovation Model;78
1.9.3;7.3 Models of Industry Growth;80
1.9.4;7.4 Evolutionary Economics;81
1.9.5;7.5 Innovation Efficiency;84
1.10;Chapter 8: Growth;86
1.10.1;8.1 Information Technology;86
1.10.2;8.2 Productivity;87
1.10.3;8.3 Inequality;89
1.10.4;8.4 Market Failure;91
1.10.5;8.5 Transparency in Information Markets;93
1.10.6;8.6 Market Power and Dominant Firms;94
1.10.7;8.7 Concluding Remarks;96
1.11;Chapter 9: Growth Policy;97
1.11.1;9.1 Costs of Growth;98
1.11.2;9.2 Energy Policy;99
1.11.3;9.3 Learning by Doing;102
1.11.4;9.4 Cost of Institutional Reforms;109
1.11.5;9.5 Cost of Debt Crisis;115
1.11.6;9.6 Challenge of Globalization;116
1.12;References;118
1.13;Index;121