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Economic Development as Problem Solving

Author

Listed:
  • Yaw Nyarko

    () (Economics New York University)

Abstract

There has been a vast recent literature which has emphasized the role of human capital and knowledge on the economic growth process. This paper presents a model where the knowledge occurs through solving "problems." These problems which are partially idiosyncratic to the country. We think of a problem as a new technique or good. Each nation must master the problems associated with an activity in order to acheive productivity increases and growth. We will follow the tradition of learning by doing models where learning occurs after production on a good, or a particular type or grade of a good. Growth occurs by solving or learning about successively harder problems.

Suggested Citation

  • Yaw Nyarko, 2006. "Economic Development as Problem Solving," 2006 Meeting Papers 893, Society for Economic Dynamics.
  • Handle: RePEc:red:sed006:893
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    File URL: http://repec.org/sed2006/up.21210.1141680734.pdf
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    More about this item

    Keywords

    Development;

    JEL classification:

    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General

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