Transitional Dynamics and Economic Growth in Developing Countries. Questo articolo non è disponibile.Transitional Dynamics and Economic Growth in Developing Countries

Four stylised facts of aggregate economic growth are set up initially. The growth process is interpreted to represent transitional dynamics rather than balanced-growth equilibria. Against this background, the fundamental importance of subsistence consumption is comprehensively analysed. Subsequently, the meaning of the productive-consumption hypothesis for the intertemporal consumption trade-off and the growth process is investigated. Finally, the process of growth is analysed empirically by means of cross-sectional conditional convergence regressions with endogenous control variables.

Introduction.- Preliminaries.- Stylised facts of aggregate growth in developing countries.- Development economics and growth theory.- Methodological foundations.- Economic growth with subsistence consumption.- Introduction.- The subsistence level of consumption.- A linear growth model with subsistence consumption.- Extensions of the basic linear growth model.- Summary and conclusion.- Appendix.- Productive consumption and growth in developing countries.- Introduction.- Productive consumption: an overview.- The importance of productive consumption for growth.- Summary and conclusion.- Appendix.- Transitional dynamics with endogenous control variables.- Introduction.- The convergence debate: a selective overview.- Cross-sectional convergence analysis.- Summary and conclusion.- Summary and conclusion.