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Book synopsis

Four stylised facts of aggregate economic growth are set up initially. The growth process is interpreted to represent transitional dynamics rather than balanced-growth equilibria. Against this background, the fundamental importance of subsistence consumption is comprehensively analysed. Subsequently, the meaning of the productive-consumption hypothesis for the intertemporal consumption trade-off and the growth process is investigated. Finally, the process of growth is analysed empirically by means of cross-sectional conditional convergence regressions with endogenous control variables.

Book details

Book category Books in English Economics, finance, business & management Economics Economic systems & structures

• Full title: Transitional Dynamics and Economic Growth in Developing Countries
• Author: Thomas Steger
• Language: English
• Binding: Paperback
• Number of pages: 151
• EAN: 9783540675631
• ISBN: 3540675639
• ID: 06810045
• Publisher: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
• Weight: 265 g
• Dimensions: 235 × 155 × 10 mm
• Date of publishing: 04. August 2000

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