Transitional Dynamics and Economic Growth in Developing Countries:

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...

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Bibliographische Detailangaben
1. Verfasser: Steger, Thomas (VerfasserIn)
Format: Elektronisch E-Book
Sprache:English
Veröffentlicht: Berlin, Heidelberg Springer Berlin Heidelberg 2000
Ausgabe:1st ed. 2000
Schriftenreihe:Lecture Notes in Economics and Mathematical Systems 489
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Zusammenfassung: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
Beschreibung:1 Online-Ressource (VIII, 151 p)
ISBN:9783642457845
DOI:10.1007/978-3-642-45784-5

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