Economic Growth in Theory and Practice [Hardcover]

The book describes the practical process of economic growth both in developed and less developed countries, and presents a unified theory of growth from the earliest stages to the most advanced. Central to the theory is the structural transformation which is associated with the growth process. This structural transformation is used to explain the logistic pattern that economic growth has followed in the real world. Within this logistic pattern, growth performance is explained both in terms of supply factors and demand factors, and the interaction between them. The influence of inflation and income distribution on economic growth is also discussed.Preface - PART 1 GROWTH AND STRUCTURAL TRANSFORMATION - Introduction - Economic Growth in Historical Perspective - The Structural Determinants of Growth - PART 2 SUPPLY FACTORS: THE CLASSICAL DETERMINANTS - Theories of Growth - Growth in the Agricultural Sector - Growth in the Industrial Sector - Growth in the Service Sector - PART 3 DEMAND FACTORS: THE KEYNESIAN DETERMINANTS - Investment - Government Expenditures - Exports - PART 4 INFLATION, INCOME DISTRIBUTION AND GROWTH - Inflation and Growth - Income Distribution and Growth - Conclusions - Bibliography - IndexR.M.SUNDRUM