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Economic Growth Hardcover Textbook Barro and Sala-i-Martin 1998 TAW230829/BB1
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eBay item number:115901883955
Item specifics
- Condition
- Book Title
- Economic Growth Hardcover Robert, Sala-i-Martin, Xavier Barro
- Educational Level
- Adult & Further Education
- Level
- Business
- Subject
- Economics
- ISBN
- 9780262024594
About this product
Product Identifiers
Publisher
MIT Press
ISBN-10
0262024594
ISBN-13
9780262024594
eBay Product ID (ePID)
27712
Product Key Features
Number of Pages
558 Pages
Language
English
Publication Name
Economic Growth
Publication Year
1998
Subject
Development / Economic Development, Economics / General
Type
Textbook
Subject Area
Business & Economics
Format
Hardcover
Dimensions
Item Height
1 in
Item Weight
29.6 Oz
Item Length
9.6 in
Item Width
6.5 in
Additional Product Features
Intended Audience
Scholarly & Professional
Dewey Edition
21
Illustrated
Yes
Dewey Decimal
338.9
Synopsis
Why do economies grow? What fixes the long-run rate of growth? These are some of the simplest, but also hardest, questions in economics. Growth of lack of it has huge consequences for a country's citizens. But for various reasons, growth theory has had long fallow patches. Happily, this is changing. In 1956 Robert Solow developed what became the standard neo-classical model of economic growth. Counties grow, on this theory, by accumulating labour and capital. Adding either obeys diminishing returns: the more labour or capital you already have, the more you need for a further given jump in output. One consequence is that an economy with less capital ought to outgrow one with more. Generally, they do. Another is that growth should eventually drop to zero. Awkwardly, it stays positive. To save the theory, long-run growth was explained by an outside factor, technical innovation, which is not in the growth function itself--hence the label exogenous for the Solow family of models. Partial as it was, the Solow model won wide acceptance and growth theory slumbered for three decades. Then came two changes. One was an attempt to add technical change and other factors to labour and capital within the growth function so that the model might predict long-run growth without leaning on outside residuals--the so-called endogenous approach. The other was a huge number of factual studies. Barro and Sala-i-Martin explain all this and more with admirable clarity (and much demanding maths) in the first modern textbook devoted to growth theory. The main theories are examined. The stress throughout is on linking theory to fact. One of three chapters on empirical work suggests how much each of several possible factors would be needed to explain differing international growth rate--not an explanation itself, but an indispensable set of empirical benchmarks. From The Economist, 17 February 1996, Why do economies grow? What fixes the long-run rate of growth? These are some of the simplest, but also hardest, questions in economics. Growth of lack of it has huge consequences for a country's citizens. But for various reasons, growth theory has had long fallow patches. Happily, this is changing. In 1956 Robert Solow developed what became the standard neo-classical model of economic growth. Counties grow, on this theory, by accumulating labour and capital. Adding either obeys diminishing returns: the more labour or capital you already have, the more you need for a further given jump in output. One consequence is that an economy with less capital ought to outgrow one with more. Generally, they do. Another is that growth should eventually drop to zero. Awkwardly, it stays positive. To save the theory, long-run growth was explained by an outside factor, technical innovation, which is not in the growth function itself--hence the label exogenous for the Solow family of models. Partial as it was, the Solow model won wide acceptance and growth theory slumbered for three decades. Then came two changes. One was an attempt to add technical change and other factors to labour and capital within the growth function so that the model might predict long-run growth without leaning on outside residuals--the so-called endogenous approach. The other was a huge number of factual studies. Barro and Sala-i-Martin explain all this and more with admirable clarity (and much demanding maths) in the first modern textbook devoted to growth theory. The main theories are examined. The stress throughout is on linking theory to fact. One of three chapters on empirical work suggests how much each of severalpossible factors would be needed to explain differing international growth rate--not an explanation itself, but an indispensable set of empirical benchmarks. From The Economist, 17 February 1996
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Seller Feedback (1,978)
- o***n (549)- Feedback left by buyer.Past 6 monthsVerified purchaseA true big joy to order from this wonderful kind Seller! The items are so neatly presented and packed, with lots of kindness, propriety and personal attention to customers! Very well organised delivery internationally with correctly completed customs forms which do not arrive with double taxation, as happens often with other sellers. Thank you so much, from the bottom of my heart, for your splendid Customer Service and for your beautiful items! Very best blessings!Miss Elliette Fushia Pink Long Formal Dress Womens Size 4 NWT 171008MFC/DHB (#122745508081)
- h***t (27)- Feedback left by buyer.Past monthVerified purchaseThe package arrived quickly and on time. The glass I ordered was as described and packaged exceptionally well. I believe that Peggy gave me a fair price. Thanks for the great service!
- a***l (371)- Feedback left by buyer.Past yearVerified purchaseVery kind & responsive seller. Shipped extremely fast and made it all the way to the UK securely packed in great time. Exactly as described,. The seller was also kind enough to reduce price & combine postage for me. Couldn’t be happier, thank you so much! 🥰Lilly Of California Tops Womens S & M Tanks MFC250315/TB1 (#126995353862)