Books
1996

Growth and economic development


Type: International
Authors: Siro Lombardini, Roberto Malaman
Publisher: Edward Elgar, Series on Economics and the Environment
Date: 1996

Abstract

Growth and Economic Development shows how the different theories of growth - from the classical to the endogenous growth and Schumpeterian theories - can be brought together to develop a satisfactory explanation of the varying rates of growth between countries. A concise survey of the many theories of growth and development, which provides a context for understanding how different models can co-exist, is followed by an explanation of how Solow's and Lucas's growth models assess the effects of technological progress. the author then enlarges Schumpeter's theory of economic development by using the theory of natural evolution and selection. Professor Lombardini uses a simple model to show how innovation can account for growth and an evolutionary model to determine conditions in which selection can produce growth. Both theses models deal with the economy as a whole. In addition, a new method - computational economics - is used to develop useful generalizations about the roles of different factors for development.

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