Review of Easterly's The Elusive Quest for Growth
William Easterly's superb book draws on what we have learned from almost two decades of cross-country growth comparisons, providing a critical synthesis of the current state of empirical knowledge on growth. The author emphasizes policy and institution-driven incentives for growth, and also critically surveys evidence for more traditional sources of growth such as factor accumulation. Another contribution of the book is an accessible and detailed description of the vicious cycle of adjustment loans directed by the World Bank and IMF at countries that squander these resources in current consumption rather than investment, leading to stagnant growth, debt crises, debt relief and further adjustment loans.
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Volume (Year): 40 (2002)
Issue (Month): 3 (September)
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References listed on IDEAS
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- Robert J. Barro, 1991.
"Economic Growth in a Cross Section of Countries,"
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Oxford University Press, vol. 106(2), pages 407-443.
- Robert J. Barro, 1989. "Economic Growth in a Cross Section of Countries," NBER Working Papers 3120, National Bureau of Economic Research, Inc.
- Barro, R.J., 1989. "Economic Growth In A Cross Section Of Countries," RCER Working Papers 201, University of Rochester - Center for Economic Research (RCER).
- Robert E. Hall & Charles I. Jones, 1999. "Why do Some Countries Produce So Much More Output Per Worker than Others?," The Quarterly Journal of Economics, Oxford University Press, vol. 114(1), pages 83-116.
- Robert E. Hall & Charles I. Jones, 1999. "Why Do Some Countries Produce So Much More Output per Worker than Others?," NBER Working Papers 6564, National Bureau of Economic Research, Inc.
- Easterly, W & Levine, R, 1996.
"Africa's Growth Tragedy : Policies and Ethnic Divisions,"
536, Harvard - Institute for International Development.
- William Easterly & Ross Levine, 1997. "Africa's Growth Tragedy: Policies and Ethnic Divisions," The Quarterly Journal of Economics, Oxford University Press, vol. 112(4), pages 1203-1250.
- Robert J. Barro, 1995.
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NBER Working Papers
5326, National Bureau of Economic Research, Inc.
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