Hardback
Growth Theory and Sustainable Development
This modern and comprehensive book offers a broad survey of economic growth theory, with special emphasis on the impact of natural resources on long-term development.
More Information
Critical Acclaim
Contents
More Information
This modern and comprehensive book offers a broad survey of economic growth theory, with special emphasis on the impact of natural resources on long-term development.
The book begins with the standard growth models of the 1950s and 1960s and extends its analysis to the so-called ‘new’ growth theory, in which the long-term growth rate of an economy becomes an endogenous variable. The impact of positive spillovers, human capital formation, public services and innovation on the growth process are carefully studied. Using models and empirical illustration, the author evaluates to what extent growth theory is able to explain the huge international differences in living standards prevailing in the world today. The theoretical foundation is then used to consider the issue of sustainable growth under stricter environmental regulation.
Growth Theory and Sustainable Development shows that the understanding of growth theory is an important key to predict the sustainability of long-term development, making it required reading for students of economic development and environmental economics.
The book begins with the standard growth models of the 1950s and 1960s and extends its analysis to the so-called ‘new’ growth theory, in which the long-term growth rate of an economy becomes an endogenous variable. The impact of positive spillovers, human capital formation, public services and innovation on the growth process are carefully studied. Using models and empirical illustration, the author evaluates to what extent growth theory is able to explain the huge international differences in living standards prevailing in the world today. The theoretical foundation is then used to consider the issue of sustainable growth under stricter environmental regulation.
Growth Theory and Sustainable Development shows that the understanding of growth theory is an important key to predict the sustainability of long-term development, making it required reading for students of economic development and environmental economics.
Critical Acclaim
‘Bretschger’s book is useful for readers who have a relatively short time to digest essential ideas of modern development of neo-classical and endogenous growth theories and to bridge the gap between economic sustainability and environmental issues. . . Growth Theory and Sustainable Development is a meaningful addition to the growth economics and environmental economics literatures. The author surveys comprehensively the impact of positive spillovers, human capital formation, public services, and innovation on the growth process.’
– H. Park, Journal of Economics / Zeitschrift für Nationalökonomie
‘This is a very impressive volume destined to become a standard treatise in the latest attempts to combine growth theory with the issue of sustainable development.’
– G.K. Shaw, The Economic Journal
‘Bretschger’s pioneering textbook shows that endogenous growth theory provides a powerful framework for the analysis of sustainable development. It illustrates clearly and simply how the new theory can be used to bring diverse social, institutional and environmental factors back into mainstream economics.’
– Peter Howitt, Ohio State University, US
– H. Park, Journal of Economics / Zeitschrift für Nationalökonomie
‘This is a very impressive volume destined to become a standard treatise in the latest attempts to combine growth theory with the issue of sustainable development.’
– G.K. Shaw, The Economic Journal
‘Bretschger’s pioneering textbook shows that endogenous growth theory provides a powerful framework for the analysis of sustainable development. It illustrates clearly and simply how the new theory can be used to bring diverse social, institutional and environmental factors back into mainstream economics.’
– Peter Howitt, Ohio State University, US
Contents
Contents: Preface 1. Long-Term Development in Perspective 2. Early Approaches to Formal Growth Theory 3. The Neo-Classical Growth Model 4. Intertemporal Optimisation 5. Positive Spillovers 6. Endogenous Growth with Different Capital Stocks 7. Research and Development 8. Open Economy 9. Extensions 10. Sustainable Development 11. Natural Resources 12. Achieving Sustainability Index
