Economic Growth / Edition 2

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Overview

Why are some countries rich and others poor? David N. Weil, one of the top researchers in economic growth, introduces students to the latest theoretical tools, data, and insights underlying this pivotal question. By showing how empirical data relate to new and old theoretical ideas, Economic Growth , 2/e provides readers with a complete introduction to the discipline and the latest research. Overview: The Facts to Be Explained; A Framework for Analysis. Factor Accumulation: Physical Capital; Population and Economic Growth; Future Population Trends; Human Capital. Productivity: Measuring Productivity; The Role of Technology in Growth; The Cutting Edge of Technology; Efficiency; Growth in the Open Economy. Fundamentals: Government; Income Inequality; Culture; Geography, Climate, and Natural Resources; Resources and the Environment at the Global Level. Conclusion: What We Have Learned and Where We Are Headed. For all readers interested in economic growth, economic development, macro theory, applied econometrics, and development studies.
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Editorial Reviews

From the Publisher
“I cannot imagine a better way of introducing students to the fascinating field of economic growth. [The author's] systematic reliance on relevant historical evidence, basic empirical facts, well-chosen examples, and illustrative tables and figures; his parsimonious and intuitive use of very simple models; and his focus on the key issues and enigmas—all these contribute to the magic of this book.”
—Philippe Aghion, Harvard University

“The book is very well conceived and will fill an important need…. The organization is excellent…. The book is slanted toward good, modern, relevant research and the best available evidence about important questions.”
—David Romer, University of California–Berkeley

“The clarity of the writing, the richness of the empirical and quantitative environment, and the currency of the research base drawn upon and explicated. All of these make this book a clear winner.”
—Steve Colt, University of Alaska–Anchorage

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Product Details

  • ISBN-13: 9780321416629
  • Publisher: Prentice Hall
  • Publication date: 3/14/2008
  • Series: Pearson Custom Business Resources Series
  • Edition description: Older Edition
  • Edition number: 2
  • Pages: 592
  • Product dimensions: 7.40 (w) x 9.00 (h) x 1.30 (d)

Meet the Author

David Weil is a professor of economics at Brown University. He received his BA in history from Brown University and his PhD in economics from Harvard University. A former member of the Board of Editors at the American Economic Review, Professor Brown is a research associate at the National Bureau of Economic Research (NBER) and associate editor of the Journal of Economic Growth.
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Table of Contents

Part I. Overview

Chapter 1. The Facts to Be Explained
Differences in the Level of Income Among Countries Differences in the Rate of Income Growth Among Countries
Appendix: Measuring and Comparing GDP Using Purchasing Power Parity Problems

Chapter 2. A Framework for Analysis
The Economics of Sylvania and Freedonia: A Parable From Parable to Practice What Can We Learn from Data?

Part II. Factor Accumulation


Chapter 3. Physical Capital
The Nature of Capital Capital’s Role in Production The Solow Model The Relationship Between Investment and Saving
Appendix: Further Exploration of the Cobb-Douglas Production Function and the Speed of Convergence in the Solow Model

Chapter 4. Population and Economic Growth
Population and Output over the Long Run Population Growth in the Solow Model Explaining Population Growth Explaining the Fertility Transition
Appendix: A More Formal Description of the Total Fertility Rate, Life Expectancy, and Net Rate of Reproduction

Chapter 5. Future Population Trends
Forecasting Population The Economic Consequences of Demographic Change

Chapter 6. Human Capital
Human Capital in the Form of Health Human Capital in the Form of Education How Much of the Variation in Income Across Countries Does Education Explain?

Part III. Productivity


Chapter 7. Measuring Productivity
Productivity in the Production Function Differences in the Level of Productivity Among Countries Differences in the Growth Rate of Productivity Among Countries

Chapter 8. The Role of Technology in Growth
The Nature of Technological Progress Modeling the Relationship Between Technology Creation and Growth Barriers to International Technology Transfer
Mathematical Appendix:

  • Incorporating Technological Progress into the Solow Model
  • Steady State
  • The Effect of a Change in Technology Growth

Chapter 9. The Cutting Edge of Technology
The Pace of Technological Change The Technology Production Function Differential Technological Progress
Mathematical Appendix: An Improved Version of the Technology Production Function

Chapter 10. Efficiency
Decomposing Productivity into Technology and Efficiency Differences in Efficiency: Case Studies Types of Inefficiency
Mathematical Appendix: Sectoral Reallocation and the Growth Rate of Aggregate Productivity

Chapter 11. Growth in the Open Economy
Autarky Versus Openness The Effect of Openness on Economic Growth Openness and Factor Accumulation Openness and Productivity Opposition to Openness

Part IV. Fundamentals


Chapter 12. Government
Defining Government’s Proper Role in the Economy How Government Affects Growth Why Governments Do Things That Are Bad for Growth Why Poor Countries Have Bad Governments

Chapter 13. Income Inequality
Income Inequality: The Facts Sources of Income Inequality Effect of Income Inequality on Economic Growth Beyond Income Distribution: Economic Mobility

Chapter 14. Culture
The Effect of Culture on Economic Growth What Determines Culture?
Cultural Change

Chapter 15. Geography, Climate, and Natural Resources
Geography Climate Natural Resources

Chapter 16. Resources and the Environment at the Global Level
Natural Resource Concepts Incorporating Natural Resources into the Analysis of Economic Growth Growth and the Environment
Mathematical Appendix: Technological Improvement Versus Resource Depletion

Part V. Conclusion


Chapter 17. What We Have Learned and Where We Are Headed
What We Have Learned What the Future Holds A Final Thought
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