Sources Of Economic Growth: Physical Capital, Human Capital, Natural Resources, And Tfp

Nguyen, Tu Anh; Le Van, Cuong; Nguyen, Tu Anh; Le Van, Cuong

ISBN 10: 3847346083 / ISBN 13: 9783847346081

Edité par Lap Lambert Academic Publishing, 2012

164 pages. 8.66x5.91x0.37 inches. In Stock. N° de réf. du vendeur 3847346083

Synopsis :

We first show that TFP is not only essential for long-run growth but also important for a developing economy to escape from a potential poverty trap. Then we present a model with 3 stages of growth: first the country concentrates on production of consumption goods; next it requires the country to import both physical capital to produce consumption goods and new technology capital to produce new technology; and finally, the country needs to import new technology capital and invest in the training and education of high skilled labor. Chapter 3 shows that long-run economic growth can be sustained by learning-by-doing, however the growth based purely on learning-by-doing is constrained by labor growth rate. In chapter 4 we study a developing non-renewable natural resource producer. The domestic technology is convex-concave, so that the economy may be locked into a poverty trap. We show that the extent to which the country will escape from the poverty trap depends on: the interactions between technology and impatience; the characteristics of the resource revenue function, the level of its initial stock of capital, and the abundance of the natural resource.

Présentation de l'éditeur: We first show that TFP is not only essential for long-run growth but also important for a developing economy to escape from a potential poverty trap. Then we present a model with 3 stages of growth: first the country concentrates on production of consumption goods; next it requires the country to import both physical capital to produce consumption goods and new technology capital to produce new technology; and finally, the country needs to import new technology capital and invest in the training and education of high skilled labor. Chapter 3 shows that long-run economic growth can be sustained by learning-by-doing, however the growth based purely on learning-by-doing is constrained by labor growth rate. In chapter 4 we study a developing non-renewable natural resource producer. The domestic technology is convex-concave, so that the economy may be locked into a poverty trap. We show that the extent to which the country will escape from the poverty trap depends on: the interactions between technology and impatience; the characteristics of the resource revenue function, the level of its initial stock of capital, and the abundance of the natural resource.

Détails bibliographiques

Titre : Sources Of Economic Growth: Physical Capital...
Éditeur : Lap Lambert Academic Publishing
Date d'édition : 2012
Reliure : Paperback
Etat : Brand New