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Economic Growth and Development in Ethiopia
This volume is a collection of selected empirical studies on determinants of economic growth and development in Ethiopia.The core argument for editing this book is to provide an up-to-date picture of the state and patterns of growth and development in Ethiopia.Ethiopia has been under focus in the past due to draughts, war, famine, development changes and the effects of global economic crisis in the country.A main contribution of this volume is that it helps identify selected important determinants of growth and development in Ethiopia and provides an estimation of their effects using up-to-date data, modelling and methods.Taken together the studies provide a comprehensive picture of the state of growth and development, their measurements, causal relationships and evaluation of efficient policies and practices in achieving progress in Ethiopia.The issues covered represent major challenges to the government and development organizations who are aiming at achieving higher growth and alleviating poverty in the country.The studies cover transition from rural agriculture to urban industry and the development of services.
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Study Guide for Economic Growth and Development
This book is a solutions manual and study guide to the 3rd edition of Economic Growth and Development.It includes solutions to all end-of-chapter questions and model-based problems within the text.In addition, each chapter contains a reader’s guide for students working through the main text, including objectives, discussion of sticking points, and main takeaways.These should prove useful to students and instructors using this book.
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Economic Growth
The long-awaited second edition of an important textbook on economic growth-a major revision incorporating the most recent work on the subject. This graduate level text on economic growth surveys neoclassical and more recent growth theories, stressing their empirical implications and the relation of theory to data and evidence.The authors have undertaken a major revision for the long-awaited second edition of this widely used text, the first modern textbook devoted to growth theory.The book has been expanded in many areas and incorporates the latest research.After an introductory discussion of economic growth, the book examines neoclassical growth theories, from Solow-Swan in the 1950s and Cass-Koopmans in the 1960s to more recent refinements; this is followed by a discussion of extensions to the model, with expanded treatment in this edition of heterogenity of households.The book then turns to endogenous growth theory, discussing, among other topics, models of endogenous technological progress (with an expanded discussion in this edition of the role of outside competition in the growth process), technological diffusion, and an endogenous determination of labor supply and population.The authors then explain the essentials of growth accounting and apply this framework to endogenous growth models.The final chapters cover empirical analysis of regions and empirical evidence on economic growth for a broad panel of countries from 1960 to 2000.The updated treatment of cross-country growth regressions for this edition uses the new Summers-Heston data set on world income distribution compiled through 2000.
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The Mismeasure of Progress : Economic Growth and Its Critics
Few ideas in the past century have had wider financial, political, and governmental impact than that of economic growth.The common belief that endless economic growth, as measured by Gross Domestic Product, is not only possible but actually essential for the flourishing of civilization remains a powerful policy goal and aspiration for many.In The Mismeasure of Progress, Stephen J. Macekura exposes a historical road not taken, illuminating the stories of the activists, intellectuals, and other leaders who long argued that GDP growth was not all it was cracked up to be. Beginning with the rise of the growth paradigm in the 1940s and 1950s and continuing through the present day, The Mismeasure of Progress is the first book on the myriad thinkers who argued against growth and the conventional way progress had been measured and defined.For growth critics, questioning the meaning and measurement of growth was a necessary first step to creating a more just, equal, and sustainable world.These critics argued that focusing on growth alone would not resolve social, political, and environmental problems, and they put forth alternate methods for defining and measuring human progress. In today's global political scene--marked by vast inequalities of power and wealth and made even more fraught by a global climate emergency--the ideas presented by these earlier critics of growth resonate more loudly than ever.Economic growth appealed to many political leaders because it allowed them to avoid addressing political trade-offs and class conflict.It sustained the fiction that humans are somehow separate from nonhuman "nature," ignoring the intimate and dense connections between the two.In order to create a truly just and equitable society, Macekura argues, we need a clear understanding of our collective needs beyond growth and more holistic definitions of progress that transcend economic metrics like GDP.
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How are economic cycles and economic growth related?
Economic cycles and economic growth are closely related. Economic cycles refer to the fluctuations in economic activity, including periods of expansion and contraction. Economic growth, on the other hand, refers to the long-term increase in a country's output of goods and services. During an economic expansion phase of the cycle, there is typically higher economic growth, as businesses invest and consumer spending increases. Conversely, during a contraction phase, economic growth tends to slow down or even turn negative. Therefore, economic cycles can have a significant impact on the overall level of economic growth in a country.
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How does economic growth occur in the economic cycle?
Economic growth occurs in the economic cycle through a combination of factors. During the expansion phase of the cycle, businesses invest in new equipment and technology, leading to increased productivity and output. This increased production leads to higher employment levels and consumer spending, further fueling economic growth. Additionally, during this phase, consumer and business confidence is high, leading to increased investment and spending. Overall, economic growth occurs as a result of increased production, employment, and investment during the expansion phase of the economic cycle.
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Is sustainable economic growth unrealistic?
Sustainable economic growth is not unrealistic, but it requires a shift in mindset and practices towards more environmentally friendly and socially responsible approaches. By prioritizing long-term benefits over short-term gains, investing in renewable resources, and promoting fair trade practices, sustainable economic growth can be achieved. It may require sacrifices and changes in current economic models, but with collective effort and commitment, it is possible to create a more sustainable and equitable economy for future generations.
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What is appropriate economic growth?
Appropriate economic growth is a sustainable increase in the production and consumption of goods and services that benefits the overall well-being of society. It should be inclusive, meaning that it benefits all members of society and reduces inequality. Additionally, it should be environmentally sustainable, meaning that it does not deplete natural resources or harm the environment. Appropriate economic growth also takes into account social factors such as health, education, and quality of life, rather than just focusing on increasing GDP.
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Indian Economic Growth in Historical Perspective : The Roots of Development
This book investigates the roots of rapid economic growth of India in recent decades, by exploring historical processes from the late colonial period.Based upon decades-long archival and field research, this book deals with the period from the late nineteenth century to 2013 and offers an integral viewpoint of the economic history of India.While critiquing the conventional understanding that links recent economic growth only with the development of high-tech, export-oriented service sectors under the liberalised economy, the book suggests deeper and wider roots of development that had a cumulative effect in three stages.First, the agrarian development and rural socio-economic changes from the end of the nineteenth century.Second, the state-led import-substitution industrialisation since 1950 that established the industrial foundations for future economic growth.Third, the economic reforms since 1991 that helped technology-intensive industries find new markets with improved quality of production. For the first time available in English, this book by the late Professor Haruka Yanagisawa, who was a leading figure in the South Asia studies collective in Japan, is an important contribution to the academic tradition of economic history of India.It will be of interest to researchers in the field of social and economic history, sociology, anthropology and economies of South Asia.
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Socialist Economic Systems : 21st Century Pathways
Bernie Sanders’ socialist advocacy in the United States, communist China’s economic successes and a Marxist revival are inspiring many to muse about improved strategies for building superior socialist futures.Socialist Economic Systems provides an objective record of socialism’s promises and performance during 1820–2022, identifies a feasible path forward and provides a rigorous analytic framework for the comparison of economic systems.The book opens by surveying pre-industrial utopias from Plato to Thomas More, and libertarian communal designs for superior living.It plumbs all aspects of the revolutionary and democratic socialist political movements that emerged after 1870 and considers the comparative economic, political and social performance of the USSR and others from the Bolshevik Revolution onwards.The book also provides case studies for all revolutionary Marxist–Leninist regimes, and supplementary discussions of Mondragon cooperatives, Israeli kibbutzim, Nordic corporatism and European democratic socialism.It investigates the theoretical and practical complexities of command-planning, reform communism, market communism, worker economic management and egalitarianism.It examines communism as an engine of economic growth, and a mechanism for improving people’s quality of existence, including living standards, labor self-governance, egalitarianism, social justice, and prevention of crimes against humanity before addressing the perennial question of what needs to be done next.A suggested path forward is elaborated drawing lessons from the warts-and-all historical performance of socialist economies during 1917–2022 and failed socialist prophesy.The evidence indicates that the key to 21st-century socialism success lies in empowering workers of all descriptions to govern democratically for their mutual protection and welfare without the extraneous imposition of priorities imposed by other movements.The book is essential reading for anyone interested in socialism, political economy, comparative economic systems, and political and social history.
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Robotization and Economic Development
This book critically examines the sweeping impacts of robotization and the use of artificial intelligence on employment, per capita income, quality of life, poverty, and inequality in developing and developed economies.It analyzes the direct and indirect effects they have had and are projected to have on the labour markets and production processes in the manufacturing, healthcare and agricultural industries among others.The author explores comparisons of human labour with robotic labour emphasizing the changes that new technologies will bring to traditionally labour-intensive industries.Offering various insights into the effectiveness, benefits and negative implications of robotization on the economy, the book provides a comprehensive picture for policymakers to implement changes that embrace new technologies while meeting employment needs and development goals. Topical and lucid, this book will be an essential read for scholars and researchers of science and technology studies, digital humanities, economics, labour studies, public policy, development studies, political studies and sociology as well as policymakers and others who are interested in these areas.
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Latin American Economic Development
Latin America is one of the most intriguing parts of the world.The region’s illustrious history, culture, and geography are famous internationally, but in terms of economics, Latin America has been generally associated with problems.For many, the combination of a resource-rich region and poor economic conditions has been a puzzle. This extensively revised and updated third edition of Latin American Economic Development continues to provide the most up-to-date exploration of why the continent can be considered to have underperformed, how the various Latin American economies function, and the future prospects for the region.The book addresses the economic problems of Latin America theme by theme. Changes and new features in this new edition include: a new chapter on economic growth that reflects the new understanding of slow growth in the region; two new appendices on basic microeconomics and macroeconomics; expanded coverage on new commodities such as lithium and quinoa; a number of new boxes and updates to existing boxes; for instructors, PowerPoint presentations and an extensive test bank are available. The book provides a comprehensive text for undergraduate economics courses on Latin America and is also suitable for use by students in other disciplines looking for a wide-ranging guide to the region.This book will continue to be an invaluable resource for undergraduates looking at Latin American economics, growth, and development.
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Is infinite economic growth possible?
Infinite economic growth is not possible in a finite world with limited resources. The Earth has finite resources such as land, water, and minerals, and the environment has a limited capacity to absorb waste and pollution. Therefore, pursuing infinite economic growth would eventually lead to the depletion of resources and irreversible damage to the environment. Instead, a more sustainable approach to economic development that considers the finite nature of resources and the need to protect the environment is necessary for long-term prosperity.
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How can sustainable economic activity be reconciled with simultaneous economic growth?
Sustainable economic activity can be reconciled with simultaneous economic growth by implementing policies and practices that prioritize environmental and social considerations alongside economic development. This can include investing in renewable energy, promoting sustainable agriculture, and implementing regulations to reduce pollution and waste. Additionally, businesses can adopt sustainable practices such as reducing energy consumption, minimizing waste, and promoting fair labor practices. By integrating sustainability into economic decision-making, it is possible to achieve economic growth while also preserving natural resources and promoting social well-being for future generations.
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Which companies have high economic growth?
Companies that have high economic growth typically belong to sectors such as technology, healthcare, and consumer goods. Some examples of companies with high economic growth include Amazon, Apple, Tesla, and Netflix in the technology sector, Moderna and Pfizer in healthcare, and Nike and Lululemon in consumer goods. These companies have shown strong revenue growth, innovation, and market dominance, leading to their high economic growth.
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Why do we need economic growth?
Economic growth is important because it leads to an increase in the standard of living for individuals and communities. It creates job opportunities, raises incomes, and improves the overall well-being of people. Economic growth also allows for investment in infrastructure, education, and healthcare, leading to a more prosperous and sustainable society. Additionally, it enables a country to better address social and environmental challenges by providing the resources needed for solutions.
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