Capital Accumulation and Economic Growth in a Small Open Economy
AbstractEconomic growth is an issue of primary concern to policy makers in both developed and developing economies. As a consequence, growth theory has long occupied a central role in economics. In this 2009 book, renowned growth theorist Stephen J. Turnovsky investigates the process of economic growth in a small open economy, showing that it is sensitive to the productive structure of the economy. The book comprises three parts, beginning with models where the only intertemporally viable equilibrium is one in which the economy is always on its balanced growth path. Empirical evidence suggests relatively slow speeds of convergence so the second part of the book looks at several alternative ways in which transitional dynamics may be introduced. In the third and final part, the author applies the growth model to the issue of foreign aid, focusing specifically on whether aid should be untied or tied to the accumulation of public capital.
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Bibliographic InfoThis book is provided by Cambridge University Press in its series Cambridge Books with number 9780521764759 and published in 2009.
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- Turnovsky,Stephen J., 2011. "Capital Accumulation and Economic Growth in a Small Open Economy," Cambridge Books, Cambridge University Press, number 9780521187527, October.
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- Michał Konopczyński, 2013. "Fiscal policy within a common currency area – growth implications in the light of neoclassical theory," Contemporary Economics, University of Finance and Management in Warsaw, vol. 7(3), October.
- Rattsø, Jørn & Stokke, Hildegunn E., 2012. "Trade policy in a growth model with technology gap dynamics and simulations for South Africa," Journal of Economic Dynamics and Control, Elsevier, vol. 36(7), pages 1042-1056.
- Yunfang Hu & Kazuo Mino, 2013.
"Trade Structure and Belief-Driven Fluctuations in a Global Economy,"
KIER Working Papers
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- Hu, Yunfang & Mino, Kazuo, 2013. "Trade structure and belief-driven fluctuations in a global economy," Journal of International Economics, Elsevier, vol. 90(2), pages 414-424.
- Yunfang Hu & Kazuo Mino, 2011. "Globalization and Volatility under Alternative Trade Structures," KIER Working Papers 791, Kyoto University, Institute of Economic Research.
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