ON THE MECHANICS OF ECONOMIC DEVELOPMENT

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.  

Article: Download PDF Journal DOI : 301/704

Cite This Article:

Article No : 10046

Number of Downloads : 111

References :

1. Arrow,  Kenneth  J., 1962, The economic implications  of learning by doing, Review of Economic Studies 29, 155-173.
2. Baumol, William J., 1986, Productivity growth, convergence, and welfare: What the long-run data show, American  Economic Review 76, 1072-1085.
3. Becker, Gary  S., 1964, Human  capital  (Columbia  University Press for the National  Bureau  of Economic Research, New York).
4. Becker, Gary  S., 1981, A treatise on the family (Harvard  University Press, Cambridge,  MA).
5. Becker, Gary  S. and  Robert J. Barro, 1985, A reformulation  of the economic theory of fertility, Unpublished  working paper (University of Chicago, Chicago, IL).
6. Boxall, Peter J., 1986, Labor and population in a growth model, Unpublished  doctoral dissertation (University  of Chicago, Chicago, IL).
7. Burmeister,  Edwin  and  A.  Rodney  Dobell,  1970, Mathematical  theories  of  economic  growth (Macmillan,  New York).
8. DeLong, Bradford,  1987, Have productivity levels converged", Unpublished  working paper (MIT, Cambridge,  MA).
9. Denison,  Edward  F., 1961, The sources of economic growth in the United  States (Committee  for Economic Development,  New York).
10. Gordon,  Robert  J., 1971, Measurement bias in price indexes for capital goods, Review of Income and Wealth,  Income and wealth series 17.
11. Griliches,  Zvi and  Dale W. Jorgenson, 1967, The explanation  of productivity  change, Review of Economic Studies 34, 249- 282.
12. Harberger,  Arnold  C., ed., 1984, World economic growth (ICS Press, San Francisco, CA). Jacobs,  Jane, 1969, The economy of cities (Random  House, New York).
13. Jacobs,  Jane, 1984, Cities and the wealth of nations (Random  House, New York).
14. Krueger, Anne  0.,  1983, The developing countries'  role in the world economy, Lecture  given at the University  of Chicago, Chicago, IL.
15. 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).
16. Kuznets,  Simon, 1959, Six lectures on economic growth (The Free Press, Glencoe).
17. Maddison,  Angus,  1982, Phases of capitalist development (Oxford University Press, New York).
18. Romer,  Paul M., 1986, Increasing returns and long-run growth, Journal  of Political Economy 94, 1002-1037.
19. 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).
20. Stokey,  Nancy  L.,  1987, Learning-by-doing  and  the  introduction  of  new goods,  Unpublished working paper  (Northwestern  University, Evanston,  IL).
21. 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.
22. 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.