Transitional Dynamics and Economic Growth in Developing Countries
ISBN:
978-3-540-67563-1
Auflage:
Softcover reprint of the original 1st ed. 2000
Verlag:
Springer Berlin
Land des Verlags:
Deutschland
Erscheinungsdatum:
04.08.2000
Reihe:
Lecture Notes in Economics and Mathematical Systems
Format:
Softcover
Seitenanzahl:
151
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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.
