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ON THE MECHANICS OF ECONOMIC DEVELOPMENT
Authore(s) : Robert E. LUCASJr. || University of ChicagoChicago/ L 60637USA Received August 1987final version received February 1988.
Volume : (13), Issue : 205, January - 2019
Abstract : This paper considers the prospects for constructing a neoclassical theory of growth and international trade that is consistent with some of the main features of economic development. Three models are considered and compared to evidence: a model emphasizing physical capital accumulation and technological change, a model emphasizing human capital accumulation through schooling, and a model emphasizing specialized human capital accumulation through learning-by-doing.
Keywords :Mechanics, Economic Development, accounting, observed pattern.
Article: Download PDF Journal DOI : 301/704
Cite This Article:
MECHANICS OF ECONOMIC DEVELOPMENT
Vol.I (13), Issue.I 205
Article No : 10046
Number of Downloads : 111
References :
Arrow, Kenneth J., 1962, The economic implications of learning by doing, Review of Economic Studies 29, 155-173.
Baumol, William J., 1986, Productivity growth, convergence, and welfare: What the long-run data show, American Economic Review 76, 1072-1085.
Becker, Gary S., 1964, Human capital (Columbia University Press for the National Bureau of Economic Research, New York).
Becker, Gary S., 1981, A treatise on... More
- Arrow, Kenneth J., 1962, The economic implications of learning by doing, Review of Economic Studies 29, 155-173.
- Baumol, William J., 1986, Productivity growth, convergence, and welfare: What the long-run data show, American Economic Review 76, 1072-1085.
- Becker, Gary S., 1964, Human capital (Columbia University Press for the National Bureau of Economic Research, New York).
- Becker, Gary S., 1981, A treatise on the family (Harvard University Press, Cambridge, MA).
- Becker, Gary S. and Robert J. Barro, 1985, A reformulation of the economic theory of fertility, Unpublished working paper (University of Chicago, Chicago, IL).
- Boxall, Peter J., 1986, Labor and population in a growth model, Unpublished doctoral dissertation (University of Chicago, Chicago, IL).
- Burmeister, Edwin and A. Rodney Dobell, 1970, Mathematical theories of economic growth (Macmillan, New York).
- DeLong, Bradford, 1987, Have productivity levels converged", Unpublished working paper (MIT, Cambridge, MA).
- Denison, Edward F., 1961, The sources of economic growth in the United States (Committee for Economic Development, New York).
- Gordon, Robert J., 1971, Measurement bias in price indexes for capital goods, Review of Income and Wealth, Income and wealth series 17.
- Griliches, Zvi and Dale W. Jorgenson, 1967, The explanation of productivity change, Review of Economic Studies 34, 249- 282.
- Harberger, Arnold C., ed., 1984, World economic growth (ICS Press, San Francisco, CA). Jacobs, Jane, 1969, The economy of cities (Random House, New York).
- Jacobs, Jane, 1984, Cities and the wealth of nations (Random House, New York).
- Krueger, Anne 0., 1983, The developing countries' role in the world economy, Lecture given at the University of Chicago, Chicago, IL.
- Krugman, Paul, 1985, The narrow moving band, the Dutch disease and the competitive conse quences of Mrs. Thatcher: Notes on trade in the presence of dynamic scale economies, Unpublished working paper (MIT, Cambridge, MA).
- Kuznets, Simon, 1959, Six lectures on economic growth (The Free Press, Glencoe).
- Maddison, Angus, 1982, Phases of capitalist development (Oxford University Press, New York).
- Romer, Paul M., 1986, Increasing returns and long-run growth, Journal of Political Economy 94, 1002-1037.
- Rosen, Sherwin, 1976, A theory of life earnings, Journal of Political Economy 84, 545-567. Schultz, Theodore W., 1963, The economic value of education (Columbia University Press, New York).
- Stokey, Nancy L., 1987, Learning-by-doing and the introduction of new goods, Unpublished working paper (Northwestern University, Evanston, IL).
- Summers, Robert and Alan Heston, 1984, Improved international comparisons of real product and its composition: 1950-1980, Review of Income and Wealth, Income and wealth series 30.
- Tamura, Robert, 1986, On the existence of multiple steady states in one sector growth models with intergenerational altruism, Unpublished working paper (University of Chicago, Chicago, IL). Uzawa, Hirofumi, 1965, Optimum technical change in an aggregative model of economic growth. International Economic Review 6, 18-3l.
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- Arrow, Kenneth J., 1962, The economic implications of learning by doing, Review of Economic Studies 29, 155-173.
- Baumol, William J., 1986, Productivity growth, convergence, and welfare: What the long-run data show, American Economic Review 76, 1072-1085.
- Becker, Gary S., 1964, Human capital (Columbia University Press for the National Bureau of Economic Research, New York).
- Becker, Gary S., 1981, A treatise on the family (Harvard University Press, Cambridge, MA).
- Becker, Gary S. and Robert J. Barro, 1985, A reformulation of the economic theory of fertility, Unpublished working paper (University of Chicago, Chicago, IL).
- Boxall, Peter J., 1986, Labor and population in a growth model, Unpublished doctoral dissertation (University of Chicago, Chicago, IL).
- Burmeister, Edwin and A. Rodney Dobell, 1970, Mathematical theories of economic growth (Macmillan, New York).
- DeLong, Bradford, 1987, Have productivity levels converged", Unpublished working paper (MIT, Cambridge, MA).
- Denison, Edward F., 1961, The sources of economic growth in the United States (Committee for Economic Development, New York).
- Gordon, Robert J., 1971, Measurement bias in price indexes for capital goods, Review of Income and Wealth, Income and wealth series 17.
- Griliches, Zvi and Dale W. Jorgenson, 1967, The explanation of productivity change, Review of Economic Studies 34, 249- 282.
- Harberger, Arnold C., ed., 1984, World economic growth (ICS Press, San Francisco, CA). Jacobs, Jane, 1969, The economy of cities (Random House, New York).
- Jacobs, Jane, 1984, Cities and the wealth of nations (Random House, New York).
- Krueger, Anne 0., 1983, The developing countries' role in the world economy, Lecture given at the University of Chicago, Chicago, IL.
- Krugman, Paul, 1985, The narrow moving band, the Dutch disease and the competitive conse quences of Mrs. Thatcher: Notes on trade in the presence of dynamic scale economies, Unpublished working paper (MIT, Cambridge, MA).
- Kuznets, Simon, 1959, Six lectures on economic growth (The Free Press, Glencoe).
- Maddison, Angus, 1982, Phases of capitalist development (Oxford University Press, New York).
- Romer, Paul M., 1986, Increasing returns and long-run growth, Journal of Political Economy 94, 1002-1037.
- Rosen, Sherwin, 1976, A theory of life earnings, Journal of Political Economy 84, 545-567. Schultz, Theodore W., 1963, The economic value of education (Columbia University Press, New York).
- Stokey, Nancy L., 1987, Learning-by-doing and the introduction of new goods, Unpublished working paper (Northwestern University, Evanston, IL).
- Summers, Robert and Alan Heston, 1984, Improved international comparisons of real product and its composition: 1950-1980, Review of Income and Wealth, Income and wealth series 30.
- Tamura, Robert, 1986, On the existence of multiple steady states in one sector growth models with intergenerational altruism, Unpublished working paper (University of Chicago, Chicago, IL). Uzawa, Hirofumi, 1965, Optimum technical change in an aggregative model of economic growth. International Economic Review 6, 18-3l.