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Economic Growth
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Economic Growth

New Directions in Theory and Policy

9781845425319 Edward Elgar Publishing
Edited by Philip Arestis, University Director of Research, Cambridge Centre for Economic and Public Policy, Department of Land Economy, University of Cambridge and Fellow, Wolfson College, UK, Michelle Baddeley, University of Technology Sydney, Australia and John S.L. McCombie, Professor of Regional and Applied Economics and Director, Cambridge Centre for Economic and Public Policy, Department of Land Economy, University of Cambridge and Fellow of Downing College, Cambridge, UK
Publication Date: 2007 ISBN: 978 1 84542 531 9 Extent: 336 pp
This enlightening and significant volume focuses on the nature, causes and features of economic growth across a wide range of countries and regions. Covering a variety of growth related topics – from theoretical analyses of economic growth in general to empirical analyses of growth in the OECD, transition economies and developing economies – the distinguished cast of contributors addresses some of the most important contemporary issues and developments in the field.

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This enlightening and significant volume focuses on the nature, causes and features of economic growth across a wide range of countries and regions. Covering a variety of growth related topics – from theoretical analyses of economic growth in general to empirical analyses of growth in the OECD, transition economies and developing economies – the distinguished cast of contributors addresses some of the most important contemporary issues and developments in the field. These include, amongst others:

• endogenous growth theory
• Keynesian theories of the business cycle and growth
• unemployment and growth
• FDI and productivity spillovers
• knowledge externalities and growth.

This useful analysis of the many facets of economic growth will be an essential read for those interested in economic theory and economic policy-making, as well as students and scholars of macroeconomics and finance.
Critical Acclaim
‘Economic Growth is an enlightening and significant new volume providing a useful analysis of the many facts of economic growth and pointing the way toward policy correction. The volume will be an essential read for those interested in economic theory and economic policy-making, as well as students and scholars of macroeconomics and finance.’
– SirReadaLot.org
Contributors
Contributors: N.F.B. Allington, P. Arestis, M. Baddeley, D.V. Barrowclough, S. Basu, S. Blankenberg, J. Cornwall, W. Cornwall, M. Crocco, L.-F. de Paula, J. Ferreiro, B. Fingleton, F.M. Fisher, C. Gomez, G.C. Harcourt, F. Jayme Jr., P. Leão, M. Leon-Ledesma, E. López-Bazo, S. Mallick, J.S.L. McCombie, J.L. Oreiro, M. Roberts, C. Rodríguez, F. Santos, M. Setterfield, A.P. Thirlwall, A. Watt
Contents
Contents:

1. Introduction
Philip Arestis, Michelle Baddeley and John S.L. McCombie

2. Is Growth Theory a Real Subject?
Franklin M. Fisher

3. What is Endogenous Growth Theory?
Mark Roberts and Mark Setterfield

4. Is the Natural Rate of Growth Exogenous?
Miguel Leon-Ledesma and A.P. Thirlwall

5. The Representative Firm and Increasing Returns: Then and Now
Stephanie Blankenberg and G.C. Harcourt

6. A Dynamic Framework for Keynesian Theories of the Business Cycle and Growth
Pedro Leão

7. A Keynesian Model of Unemployment and Growth: Theory
John Cornwall

8. A Keynesian Model of Unemployment and Growth: An Empirical Test
Wendy Cornwall

9. The Relevance of the Cambridge–Cambridge Controversies in Capital Theory for Econometric Practice
G.C. Harcourt

10. Foreign Direct Investment and Productivity Spillovers: A Sceptical Analysis of Some OECD Economies
Carlos Rodríguez, Carmen Gomez and Jesus Ferreiro

11. Increasing Returns and the Distribution of Manufacturing Productivity in the EU Regions
Bernard Fingleton and Enrique López-Bazo

12. The Role of Wage-Setting in a Growth Strategy for Europe
Andrew Watt

13. Economic Growth and Beta-Convergence in the East European Transition Economies
Nigel F.B. Allington and John S.L. McCombie

14. Knowledge Externalities and Growth in Peripheral Regions
Fabiana Santos, Marco Crocco and Frederico Jayme Jr

15. Knowledge, Human Capital and Foreign Direct Investment in Developing Countries: Recent Trends from an Endogenous Growth Theory Perspective
Diana V. Barrowclough

16. Is Growth Alone Sufficient to Reduce Poverty? In Search of the Trickle Down Effect in Rural India
Santonu Basu and Sushanta Mallick

17. Strategy for Economic Growth in Brazil: A Post Keynesian Approach
José L. Oreiro and Luiz-Fernando de Paula

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