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Topic: Economic growth

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  Economic Growth, by Paul M. Romer: The Concise Encyclopedia of Economics: Library of Economics and Liberty
Rapid growth could be achieved in large part by copying industrial practices in the leading countries of the world.
If economic growth could be achieved only by doing more and more of the same kind of cooking, we would eventually run out of raw materials and suffer from unacceptable levels of pollution and nuisance.
This discovery may ultimately have economic implications that are as far-reaching as the discovery of the transistor.
www.econlib.org /library/Enc/EconomicGrowth.html   (2767 words)

  Economic growth - Wikipedia, the free encyclopedia
The modern conception of economic growth began with the critique of Mercantilism, especially by the physiocrats and with the Scottish Enlightenment thinkers such as David Hume and Adam Smith, and the foundation of the discipline of modern political economy.
The long-run path of economic growth is one of the central questions of economics; in spite of the problems of measurement, an increase in GDP of a country is generally taken as an increase in the standard of living of its inhabitants.
This aspect of economics (economic geography)--and its influence on human migration and political structures--was extensively studied by Ellsworth Huntington, a professor of Economics at Yale University in the early 20th century.
en.wikipedia.org /wiki/Economic_growth   (2274 words)

 Guardian Unlimited | Today's issues | Economic growth
Economic growth is the most fundamental indicator of an economy's health - the rate at which national income is growing.
The British economist, John Maynard Keynes, proposed an endogenous model of economic growth that suggests growth is largely self-adjusting, moving through a cycle of peaks and troughs, or boom and bust.
Economic growth may even go negative (showing that the economy is now shrinking) before prices begin to drop in response.
www.guardian.co.uk /theissues/article/0,6512,763909,00.html   (742 words)

 economic growth - Hutchinson encyclopedia article about economic growth
Rate of growth of output of all goods and services in an economy, usually measured as the percentage increase in gross domestic product or gross national product from one year to the next.
It is regarded as an indicator of the rate of increase or decrease (if economic growth is negative) in the standard of living.
Economic growth is negative during a recession, as it was in the UK in 1991 and 1992, when it was −2.5% and −1.0% respectively.
encyclopedia.farlex.com /economic+growth   (180 words)

 Preservation Institute: The End of Economic Growth
Of course, negative growth would have to be gradual: it would take many decades to rebuild our cities so they were no longer dominated by the automobile, and a gradual transition is also needed to avoid economic instability and to protect retirement funds.
This attitude may have been useful during the age of economic growth, but when growth ends, we will be able to see that Aristotle was right to say that we work in order to have leisure, that the purpose of work is to support activities that are ends in themselves.
This appendix is an economic analysis of counterproductivity that shows graphically what the optimum level of output is. We have seen that economic growth leads to counterproductivity because the things we produce become less useful while environmental and social costs remain roughly constant.
www.preservenet.com /endgrowth/EndGrowth.html   (17816 words)

 After Marx: Structural Change and Steady State
Concern with growth was then largely confined to the German and English Historical Schools, although these thinkers did little more than improve the recording and collection of facts on economic history.
One may think of this as more of a cycle theory than a growth theory, but Schumpeter claimed that there were ratchet effects in innovation so that entrepreneurial-driven spurts of economic activity led to progressively higher levels of income.
The final set of growth theories that emerged in the 1920s and 1930s are the "structural" theories of growth developed by the Soviet economist Grigory Fel'dman (1928) and the Kiel School (e.g.
cepa.newschool.edu /het/essays/growth/aftermarx.htm   (1422 words)

 The Size and Functions of Government And Economic Growth
The reduction in GDP growth rates in the United States and in many nations around the world can be traced directly to their increases in government expenditures far in excess of the growth-maximizing level.
The reduction in the average growth rate of real GDP was 5.2 percentage points for OECD members with the largest expansion in size of government, compared to an average decline of 1.6 percentage points for those with the least increase in size of government.
Investment would be expected to increase economic growth, and the positive sign on the investment coefficient shows that more investment is correlated with higher economic growth.15 The coefficient of the investment variable is significant at better than the 95 percent level of confidence.
www.house.gov /jec/growth/function/function.htm   (12340 words)

 Economic Growth and Productivity:Department   (Site not responding. Last check: 2007-11-07)
Economic Assessment of Ukraine 2007: Raising the competitiveness of the economy
Policy has begun to prepare for the economic impact of population ageing, but there is no room to relax in seeking to contain fiscal costs and to increase employment among older workers.
The analysis focuses on the growth patterns of OECD countries during the last decade and identifies the fundamental drivers of growth.
www.oecd.org /department/0,2688,en_2649_34325_1_1_1_1_1,00.html   (409 words)

 Economic Policy Reforms: Going for Growth 2007   (Site not responding. Last check: 2007-11-07)
This Chapter provides an overview of broad trends in growth performance over the recent past and the policy priorities that have been identified in each country to address specific performance weaknesses.
Drawing on in-depth reviews in recent Economic Surveys of individual OECD countries, this chapter takes stock of policies that influence competition, with a focus on the remaining obstacles to competition rather than on the progress achieved to date.
The Economic Outlook, published in May 2007, presents the latest economic analysis and projections for major economies, together with two special chapters on globalisation and fiscal consolidation.
www.oecd.org /growth/goingforgrowth2007   (717 words)

 Economic Growth
Economic Growth is one of the "5 Es of economics or one of the five ways for a society to reduce scarcity.
It could be possible to have this type of economic growth so that we CAN produce the quantities represented by point E, but if there is unemployment and productive inefficiency we would be at a point beneath this new curve (maybe point C).
Accounting for growth is an attempt to quantify factors contributing to economic growth as shown in Table 17-1.
www.harpercollege.edu /mhealy/eco212i/lectures/econgrow/econgrow.htm   (1690 words)

 Religion and Economic Growth
Some researchers argue that explanations for economic growth should be broadened to include cultural determinants.
But in Religion and Economic Growth (NBER Working Paper No. 9682), authors Robert Barro and Rachel McCleary analyze the influences of religious participation and beliefs on a country’s rate of economic progress.
However, that suppression of growth is tempered by the extent to which church attendance leads to greater religious beliefs, which in turn encourages economic growth.
www.nber.org /digest/nov03/w9682.html   (522 words)

 Economic Growth and Poverty Alleviation - Papers and Links - Private Sector Development - The World Bank Group
The potential for rapid economic growth means that large-scale poverty reduction is now possible within a human lifespan.
Aggregate economic growth is highly correlated with the growth in the incomes of the poor.
This website provides resources on three issues: the relationship between distributional dynamics, economic growth, and poverty reduction; the effect inequality might have on social outcomes and behaviors; and current discussions, methodologies and data on poverty and inequality that might be useful for project and research work.
rru.worldbank.org /PapersLinks/Economic-Growth-Poverty-Alleviation   (2059 words)

 Economic Growth Worksheet [Virtual Economy]   (Site not responding. Last check: 2007-11-07)
It looks at what creates economic growth and the costs there may be from economic growth that is too fast.
Use the theory section on economic growth to find out the reasons why this happens.
Use the theory section on growth to find out the costs that may result from high economic growth.
www.bized.ac.uk /virtual/economy/policy/outcomes/gdp/growws.htm   (422 words)

 U.S. economy posts strongest growth in nearly 20 years - Oct. 30, 2003
NEW YORK (CNN/Money) - U.S. economic growth surged in the third quarter at the fastest pace in nearly two decades, the government said Thursday, but even President Bush admitted that was unlikely to be sustained.
The burst of GDP growth was led by a 6.6 percent jump in consumer spending, the fastest pace since the third quarter of 1997.
Government spending, which contributed mightily to second quarter growth, slowed down as defense spending, which surged 45.8 percent in the second quarter, driven by spending on the war in Iraq, was flat.
money.cnn.com /2003/10/30/news/economy/gdp   (1081 words)

While economic development theorists generally hold that security is a prerequisite for economic growth, Israel’s war-torn history has not prevented it from creating a strong, modern, and diversified economy, one which rivals European countries instead of its neighbors in the region.
It is important to note that the economic prosperity of the 1990s coincided with a new, deadly dimension of the Arab-Israeli conflict: the advent of Palestinian suicide terrorism inside the Green Line.
In total, Israel’s economic success is quite unique among developing countries given the conditions under which it evolved: few natural resources, a socialist legacy, regional warfare, and mass immigration absorption—all of which combined should have brought failure.
meria.idc.ac.il /journal/2002/issue3/jv6n3a3.html   (7034 words)

 Economic Growth [Virtual Economy]   (Site not responding. Last check: 2007-11-07)
Economic growth is the 'Holy Grail' of economic policy.
Economic growth means higher incomes, and generally speaking higher incomes mean higher living standards.
Governments would like as much growth as possible, but the trouble is that too much growth causes other problems.
www.bized.ac.uk /virtual/economy/policy/outcomes/gdp   (101 words)

 Reference.com/Encyclopedia/Economic growth
This notion of growth as increased stocks of capital goods (means of production) was codified as the Solow-Swann Growth Model, which involved a series of equations which showed the relationship between labor-time, capital goods, output, and investment.
Other measures of national income, such as the Index of Sustainable Economic Welfare or the Genuine Progress Indicator, have been developed in an attempt to give a more complete picture of the level of well-being, but there is no consensus as to which, if any, is a better measure than GDP.
Beyond Classical and Keynesian Macroeconomic Policy is Paul Romer's plain-English explaination of Endogenous Growth Theory.
www.reference.com /browse/wiki/Economic_growth   (2063 words)

 Amazon.com: Economic Growth, 2nd Edition: Books: Robert J. Barro,Xavier Sala-i-Martin   (Site not responding. Last check: 2007-11-07)
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.
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 final chapters cover empirical analysis of regions and empirical evidence on economic growth for a broad panel of countries from 1960 to 2000.
www.amazon.com /Economic-Growth-2nd-Robert-Barro/dp/0262025531   (1596 words)

 WebEc - Economic Development, Technological Change and Growth   (Site not responding. Last check: 2007-11-07)
The Asian Development Bank, a development finance institution consisting of 56 members, is engaged in promoting the economic and social progress of its developing member countries in the Asian and Pacific region.
RePEc (Research Papers in Economics) is a collaborative effort to enhance the dissemination of research in economics.
The Macroeconomics and Growth site of the World Bank features recent research by World Bank staff working in the broad area of macroeconomics and economic growth.
www.helsinki.fi /WebEc/webeco.html   (1250 words)

 USAID/East Timor: Economic Growth   (Site not responding. Last check: 2007-11-07)
Such an economic climate creates jobs, reduces poverty, inspires confidence, and builds the capacity of the Timorese people to direct their own future.
The Economic Growth Program continues to focus on four main areas: strengthening the national coffee cooperative system, expanding rural employment opportunities, increasing worker’s productivity, and rehabilitating rural infrastructure.
The economic growth program has also supported the established an independent small business and cooperative training center that provides business management and financial skills training to cooperative staff and East Timor entrepreneurs.
www.usaideasttimor.net /EG.htm   (938 words)

This is a new series of twice-monthly publications by the ICEG European Center (www.icegec.org) and Corvinus International Investment Ltd (www.corvinus.hu) focused on the macroeconomic developments in South Eastern Europe; economic and sector trends, policy decisions, and changes in institutional and legislative framework.
Economic and Political Relations after the EU Enlargement:
The Visegrad Countries and Russia, Ukraine, Belarus, and Moldova A collection of papers by the ICEG European Center (Budapest) and the Foundation for Research into the World Economy sponsored by Freedom House and UNDP.
www.iceg.org   (322 words)

 cbs11tv.com - Economic Growth Slows To 2 Percent Pace
Economists were expecting the government's old GDP estimate of 2.2 percent growth for the third quarter to hold.
In other economic news, the number of newly laid-off workers signing up for unemployment benefits rose by 9,000 to 315,000 last week, the Labor Department reported.
Even with expectations that economic activity will continue to be subpar in the months ahead, most analysts don't expect the economy to fall into recession.
cbs11tv.com /business/finance_story_355091316.html   (830 words)

 BBC NEWS | Business | US economic growth revised upward   (Site not responding. Last check: 2007-11-07)
The numbers, which come after recent poor data, show the economic slowdown is not as bad as feared.
The central bank's survey, which gives an economic overview of the economy, showed that economic growth was solid in October and November.
The Commerce Department's revised growth figures were considerably beyond the 1.8% expected by Wall Street.
news.bbc.co.uk /2/hi/business/6157119.stm   (403 words)

 Economic Growth - Data sets   (Site not responding. Last check: 2007-11-07)
Various important growth data sets are available on the Internet, either over the WWW or by anonymous FTP.
Note that other good places to look for data are the homepages of specific researchers and the World Bank Growth Research pages.
Economic, social and political data by Richard Tucker
www.nuff.ox.ac.uk /Economics/Growth/datasets.htm   (95 words)

 Amazon.com: Economic Growth: Books: Robert J. Barro,Xavier Sala-i-Martin   (Site not responding. Last check: 2007-11-07)
Growth of lack of it has huge consequences for a country's citizens.
To save the theory, long-run growth was explained by an outside factor, technical innovation, which is not in the growth function itself--hence the label "exogenous" for the Solow family of models.
Graduate-level textbook on economic growth surveys neoclassical and more recent growth theories, stressing their empirical implications and the relation of theory to data and evidence.
www.amazon.com /Economic-Growth-Robert-J-Barro/dp/0262024594   (1523 words)

 economic growth Definition
Nominal growth is defined as economic growth including inflation, while real growth is nominal growth minus inflation.
Economic growth is usually brought about by technological innovation and positive external forces.
Learn the basics about the Federal Reserve, The Federal Open Market Committee (FOMC), and how monetary policy is used to target interest rates to avoid inflation and slow economic growth.
www.investorwords.com /5540/economic_growth.html   (179 words)

 The Democratic Party
We are committed to expanding economic opportunity to all Americans and creating the new jobs of the future.
Today President Bush spoke in North Carolina and tout economic "successes" while ignoring the reality that millions of hard-working Americans can see for themselves: that the Bush economy is not working for them.
The nation's GDP grew at a 3.1 percent annual rate in the first quarter of 2005-substantially slower than the 3.8 percent growth in the final quarter of 2004, and the slowest rate since the 1.9 percent growth in the first quarter of 2003.
www.democrats.org /a/national/economic_growth   (2446 words)

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