The World Bank Spence Commission Report And The Trinity Growth Theory
This paper compares Michael Spence's Growth Theory with Professor Lim Chong Yah's Trinity Growth Theory. The similarities and the differences in the two approaches are brought out in explaining the superlative growth rates of economies in the world. The writer maintains that the Trinity Growth Theory also explains why growth levels (income levels) differ, and why growth rates of mature as well as very poor economies display slow growth rates, and not superlative growth rates. The two theories are multi-causal and multidimensional, not uni-causal.
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Volume (Year): 55 (2010)
Issue (Month): 01 ()
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