Economic Dynamics

Growth and Development

Häftad, Engelska, 1990

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This treatise deals with an important topic in economic theory: economic growth and development. It proposes an economic development theory within the framework of input-output systems and neo-classical economics. The standard topics in growth theory are re-examined in the light of newer results in nonlinear dynamic theory. There is a special emphasis on nonlinear unstable phenomena, such as bifurcations and structural changes. Bifurcation theory provides an efficient tool for dealing with nonlinear dynamic systems. The book also emphasizes the concepts of adjustment speed and time scale in order to explore connections of different growth theories in human literature.

Produktinformation

Utgivningsdatum1990-11-14
Mått170 x 244 x 14 mm
Vikt442 g
FormatHäftad
SpråkEngelska
SerieLecture Notes in Economics and Mathematical Systems
Antal sidor232
FörlagSpringer-Verlag Berlin and Heidelberg GmbH & Co. KG
ISBN9783540532170

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I. The Economic Development Problem.- 1. Economic Development.- 2. A General Historical Sketch of Growth Theory.- 3. Development Indicators.- 4. Short Term versus Long Term.- 5. Fast Variable versus Slow Variable.- 6. Equilibrium versus Non-equilibrium.- 7. Stability versus Instability.- II. Growth Theory Revised — From Quantitative Aspect.- 1. The Neoclassical Approach to Growth.- 2. The One Sector Model of Technological Changes Within the Framework of the Neoclassical Approach.- 3. A Growth Model With Exhaustible Resources and Endogenous Population.- 4. Distribution of Income and Wealth in the Neoclassical One Sector Growth Model.- 5. The Two Sector Models.- 6. Multiple Sector Models — The extended neoclassical model.- 7. Production Functions in Growth Models.- III. A Revision of Real and Monetary Dynamic Models.- 1. Money in Economic Theory.- 2. The One Sector Model With Money Within the Framework of the Neoclassical Approach.- 3. On the Generalized Tobin Model.- IV. Prices, Growth Rates and Interest Rates in the Dynamic Context of Multisector Models.- 1. Introduction.- 2. The Input-Output System With Neoclassical Production Functions.- 3. The Existence of Short-Run Equilibria With Endogenous Interest Rate.- 4. The Existence of Equilibrium for a Fixed Interest Rate.- 5. The Interest Rate and Investment Coefficient Matrix.- 6. The Relations Between Growth, Interest and Inflation Rates in the von Neumann Dynamic Model — An extended concept of balanced growth.- V. Growth Rate Controlled and Economic Dynamics in a Multisector Model.- 1. Introduction.- 2. Economic Dynamics With Maximization of Welfare.- 3. Economic Cycles in the Case of One Sector.- 4. Properties of the Multiple Sector Model.- 5. Stabilization With Growth Rate Adjustment.- 6. Further Interpretationsof the Dynamic System.- 7. Conclusions.- VI. The Choice of Techniques.- 1. The Choice of Techniques in a Simple Growth Model.- 2. The Basic Model of Leontief Technology and Some of Its Fundamental Properties With One Technique.- 3. The Model of Leontief Technology With Many Alternative Techniques.- 4. Dynamic Behavior of the Model With Many Alternative Techniques.- 5. The Impossibility of Reswitching in the Continuous Substitution Model.- VII. Technological Policy and Economic Development — A Neoclassical Approach.- 1. Technological Change in Economic Development.- 2. The Model.- 3. Equilibrium and Stability.- 4. The Effects of Changes in Some Parameters.- 5. Effects of Changes in the Population Growth Rate in the Case of Instability.- 6. Conclusions.- VIII. Technological Policy and Economic Development — Multisector Approach.- 1. The Basic Model.- 2. Some Properties of the Basic System.- 3. Technological Change of “Learning by Doing”.- 4. Technological Change due to Investment in Training.- 5. A Growth Model of “Hybrid” Technological Change.- 6. Some Comments.- IX. Conclusion and Prospects for Further Research.- 1. Summary.- 2. How To Close Dynamic Models — The neoclassical, neo-Marxian and neo-Keynesian approaches.- Appendix. Nonlinear Dynamic System Theory.- A.1. Ordinary Differential Equations and Existence of Solutions.- A.2. Stability.- A.3. Linearization Principle and Its Valid Domain.- A.4. Limit Cycles in Two Dimension — The Poincaré-Bendixson theory.- A.5. Bifurcations.- A.6. Limit Cycles — The Hopf bifurcation theorem.- A.7. Maps.- A.8. Chaos.- A.9. The Logistic Map — An example of chaos.- References.