Description
Unlock the secrets of economic progress with 'The Forces of Economic Growth,' a vital resource for students, policymakers, and economists alike. This influential book delves deep into the essential drivers of economic growth, emphasizing the critical role of New Growth Theory. It explores key factors like human capital formation, education, and the impact of knowledge creation through dedicated research. Tailored for those looking to enhance public policy, it discusses how spillover effects and investment in public infrastructure can significantly accelerate growth. By scrutinizing the intricacies of endogenous growth models, the authors provide empirical analyses that are enriched with modern time series methods, effectively addressing issues of heterogeneity found in cross-country studies. The examination of the dynamic relationship between growth and inequality adds a nuanced perspective, especially in light of technological advancements and their effect on income disparity. Ideal for academics seeking a comprehensive understanding of economic dynamics, this book offers practical insights and policy implications drawn from newly constructed data sets for the United States and select Eurozone countries. Whether your focus is on implementing effective economic strategies or enhancing personal knowledge of economic principles, 'The Forces of Economic Growth' is an indispensable guide that bridges theory with real-world applications.