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Transitional Dynamics and Economic Growth in Developing Countries

Transitional Dynamics and Economic Growth in Developing Countries

Paperback

Series: Lecture Notes in Economic and Mathematical Systems, Book 489

EconomicsGeneral Reference

ISBN10: 3540675639
ISBN13: 9783540675631
Publisher: Springer Nature
Published: Aug 4 2000
Pages: 151
Weight: 0.54
Height: 0.36 Width: 6.14 Depth: 9.21
Language: English
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.

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