On Growth in the Intermediate Run
Yair Mundlak
Chapter 3 in Trade, Aid and Development, 1994, pp 30-49 from Palgrave Macmillan
Abstract:
Abstract One way to think of economic growth is to view it as an autonomous process, which in spite of some shocks, proceeds at a pace which is pretty much determined by the time preferences of the individuals and their attitude towards risk. The engine of growth is the change in technology and this is determined by the amount of resources that are allocated to activities which change the technology, referred to as human capital (cf. Lucas, 1988). This view of the process yields a consistent paradigm of sustainable growth where there is no need to rely on exogenous technical change. This theory is instructive but in its present form it is insufficient to confront the data and explain crosscountry and within-country differences in the growth rates. Empirical analysis, therefore, has to search for a broader specification.
Keywords: Human Capital; Real Exchange Rate; Physical Capital; Green Revolution; Agricultural Output (search for similar items in EconPapers)
Date: 1994
References: Add references at CitEc
Citations:
There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-23169-0_3
Ordering information: This item can be ordered from
http://www.palgrave.com/9781349231690
DOI: 10.1007/978-1-349-23169-0_3
Access Statistics for this chapter
More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().