Endogenous Growth Theory

Book Description

Advanced economies have experienced a tremendous increase in material well- being since the industrial revolution. Modern innovations such as personal computers, laser surgery, jet airplanes, and satellite communication have made us rich and transformed the way we live and work. But technological change has also brought with it a variety of social problems. It has been blamed at various times for increasing wage and income inequality, unemployment, obsolescence of physical and human capital, environmental deterioration, and prolonged recessions.

To understand the contradictory effects of technological change on the economy, one must delve into structural details of the innovation process to analyze how laws, institutions, customs, and regulations affect peoples' incentive and ability to create new knowledge and profit from it. To show how this can be done, Philippe Aghion and Peter Howitt make use of Schumpeter's concept of creative destruction, the competitive process whereby entrepreneurs constantly seek new ideas that will render their rivals' ideas obsolete.

Whereas other books on endogenous growth stress a particular aspect, such as trade or convergence, this book provides a comprehensive survey of the theoretical and empirical debates raised by modern growth theory. It develops a powerful engine of analysis that sheds light not only on economic growth per se, but on the many other phenomena that interact with growth, such as inequality, unemployment, capital accumulation, education, competition, natural resources, international trade, economic cycles, and public policy.

Customer Reviews:

not quite a textbook.......2003-06-14

This book is a treatise of the most recent works in endogenous growth theory, and so it may be inappropriate to be used as a textbook for a course. Although the exercises are explained, it seems that this book cannot be feasibly used for self-study because, as the reviewer below me pointed out, you need someone to fill in the gaps. Nevertheless, the authors do a great job in explaining the intuition behind the difficult technical papers that make up this book. I think this book would be useful for those masters/doctoral students who are preparing/writing their thesis. The explanations and the bibliography can guide them and enable them to get many ideas for their paper.

Good theory, Poor presentation.......2002-01-11

To read this book effectively, you really need to have the articles that the authors cited in the book, especially their own articles.
The ideas from the book are excellent. However, the presentation of the is extremely bad. I am not saying for just myself. Many of my professors and my peers also agree.
The authors skipped a lot on the derivation of the equations without mentioning where they came from, or without even defining some terminologies. Sometime, you will get really frustrated.

I prefer to learn not just the ideas but also the technical foundations. Barro and Xala-i Martin's book on Growth is excellent in this. It is impossible to learn that in this book. Sorry, the book is a failure!!!
I talked to my friends in other schools in Cambridge. They were surprised because Aghion is supposed to be a very careful professor. I don't know. But I have attended a conference and seen how Howitt presented. It is a big, really big, conference, and the guy just wrote down those equations and calculations by hand. They are even not neat.
The exercises are interesting and helpful if you want to master the tricks. However, again, you need to read the articles that they used since many steps will be skipped carelessly.

One of the principal books about the modern economic growth.......2001-04-25

"Endogenous Growth Theory" by Philippe Aghion and Peter W. Howitt is one of the best book about economic growth theory who I've seen. This book together with "Advanced Macroeconomics" by David Romer and "Economic Growth" by Robert Barro and Xavier Sala-I-Martin are the principal books about all the modern economic growth theory. I recommend very much this book.

Comprehensive.......2000-04-01

An intermediate-to-advanced updated text in this specialized branch of growth economics. A nice follow-through if you have already read something like Barro & Sala-i-Martin's book. Fully packed with exercises and thier results explained! Complete bibliography. in short, a must.

an Intuitive book.......2000-01-13

This book presents a series of advanced growth models with optimal level of mathematics and intuition.

Dynamics of Endogeneous Economic Growth (Contributions to Economic Analysis)

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Dynamics of Endogeneous Economic Growth (Contributions to Economic Analysis)
G. Schmidt
Manufacturer: North Holland
ProductGroup: Book
Binding: Hardcover

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ASIN: 044451225X

Book Description

This book is concerned with the methods by which the dynamics of endogenous economic growth systems may be analysed and numerically computed, and with the validation of such numerical computations through qualitative economic reasoning. The methods comprise linearisation, phase-space analysis and a variety of numerical integration techniques. In particular, the book provides a detailed examination of the transitional dynamics (the movement from some current state towards a steady-state equilibrium) of the influential endogenous growth model from Paul Romer's 1990 Journal of Political Economy article: "Endogenous Technological Change".

Finance, Investment and Economic Fluctuations: An Analysis in the Tradition of Hyman P. Minsky (Elgar Monographs)

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Finance, Investment and Economic Fluctuations: An Analysis in the Tradition of Hyman P. Minsky (Elgar Monographs)
Eric Nasica , and Hyman P. Minsky
Manufacturer: Edward Elgar Publishing
ProductGroup: Book
Binding: Hardcover

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Economic Growth And Distribution: On the Nature And Causes of the Wealth of Nations

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Economic Growth And Distribution: On the Nature And Causes of the Wealth of Nations

Manufacturer: Edward Elgar Publishing
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Manufacturer: Blackwell Publishing Limited
ProductGroup: Book
Binding: Paperback

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Growth theory is currently changing directions. The orthodox neoclassical approach is being modified and extended by models of endogenous growth. This volume provides a survey of the topic, along with fresh contributions in the field.Growth performance differs widely among countries and, as demonstrated in this volume, the usual empirical tests of convergence of growth rates are blurred by Galton's classical fallacy of regression to the mean. More direct empirical methods show a tendency towards divergent growth rates. One of the theoretical contributions argues that divergent growth experiences are better accounted for by the new growth theory than by the old. Endogenous growth models may give rise to multiple equilibria. Economies with identical structures may therefore have different growth rates. Moreover, judging theories by simple correlations may be flawed if the shocks are not properly accounted for. This volume also shows how international coordination across countries may be needed to promote growth due to international spillover effects.An important insight of the new theory is that economic institutions and short-term policies have long-run effects on growth. Other contributions in this volume cover aspects such as growth effects of different trade, tax and public investment policies, as well as lobbying activities. Moreover, the relationships between growth, talent and income distribution are explored from different perspectives. The emphasis is on the effects of egalitarianism both within and across generations.

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Martin Zagler develops, within a rigorous formal framework, innovative and unconventional macroeconomic policy perspectives that can be deduced from the New Growth Theory in the presence of market imperfections. For this book he adopts the standard structure of fiscal, monetary, and trade policy.

Environmental Kuznets Curves: A Study on the Economic Theory and Political Economy of Environmental Quality Improvements in the Course of Economic Growth ... Notes in Economics and Mathematical Systems)

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Environmental Kuznets Curves: A Study on the Economic Theory and Political Economy of Environmental Quality Improvements in the Course of Economic Growth ... Notes in Economics and Mathematical Systems)
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Growth Theory and Growth Policy (Routledge Studies in International Businessand the World Economy, 30)

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Growth Theory and Growth Policy (Routledge Studies in International Businessand the World Economy, 30)
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The theory of economic growth has been one of the most important issues in the study of economics since the days of Adam Smith. This collection examines the phenomenon of economic growth with an admirable economic vigour.
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Growth, Trade and Endogenous Technology: A Study of OECD Manufacturing

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Growth, Trade and Endogenous Technology: A Study of OECD Manufacturing
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Manufacturer: Palgrave Macmillan
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This is the first book to comprehensively address, step-by-step, the planning and designing of your first web-based training project. Drawing on their experience with global companies in implementing web-based training (WBT), the authors show you how to apply the proven framework of traditional instructional design to the unique demands of designing web-based training, with case studies from high-tech industries, and detailed discussion of the multicultural and multi-language issues that inevitably arise. This comprehensive primary text is essential reading for both training executives and managers and courseware designers and developers alike. Extensively referenced with 26 graphics, 12 tables, and a glossary, the work includes numerous real examples to illustrate how language and cultural issues are addressed in courses focusing on both soft and technical skills, approaches and considerations for a variety of training scenarios, and reference lists of resources and associations. To keep this valuable resource current, an associated web site provides templates, examples, and links to more information.

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Web-based training manager or developer? Read This........2002-07-16

This book is a must read for managers and team members of any organization designing web-based training. A logial model for analysis, strategic planning, development, through to deployment and maintenance is presented.

Following this model will greatly assist small and large scale organizations meet thier web-based training objectives and avoid the pitfalls associated with inflexible design.

The segment on localization of training (making training relevant to different cultures) was particularly eye opening.

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This digital document is an article from The Geographical Review, published by Thomson Gale on October 1, 2006. The length of the article is 1225 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

Citation Details
Title: Women in Agriculture in the Middle East.(Book review)
Author: Paul J. Kaldjian
Publication: The Geographical Review (Magazine/Journal)
Date: October 1, 2006
Publisher: Thomson Gale
Volume: 96 Issue: 4 Page: 721(3)

Article Type: Book review

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The role of women in evolving agricultural economies of Asia and the Near East: Implications for A.I.D.'s strategic planning (Genesys special studies)

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