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Economic Growth and Development in Ethiopia
This volume is a collection of selected empirical studies on determinants of economic growth and development in Ethiopia.The core argument for editing this book is to provide an up-to-date picture of the state and patterns of growth and development in Ethiopia.Ethiopia has been under focus in the past due to draughts, war, famine, development changes and the effects of global economic crisis in the country.A main contribution of this volume is that it helps identify selected important determinants of growth and development in Ethiopia and provides an estimation of their effects using up-to-date data, modelling and methods.Taken together the studies provide a comprehensive picture of the state of growth and development, their measurements, causal relationships and evaluation of efficient policies and practices in achieving progress in Ethiopia.The issues covered represent major challenges to the government and development organizations who are aiming at achieving higher growth and alleviating poverty in the country.The studies cover transition from rural agriculture to urban industry and the development of services.
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Study Guide for Economic Growth and Development
This book is a solutions manual and study guide to the 3rd edition of Economic Growth and Development.It includes solutions to all end-of-chapter questions and model-based problems within the text.In addition, each chapter contains a reader’s guide for students working through the main text, including objectives, discussion of sticking points, and main takeaways.These should prove useful to students and instructors using this book.
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Economic Growth
The long-awaited second edition of an important textbook on economic growth-a major revision incorporating the most recent work on the subject. 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.The authors have undertaken a major revision for the long-awaited second edition of this widely used text, the first modern textbook devoted to growth theory.The book has been expanded in many areas and incorporates the latest research.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 book then turns to endogenous growth theory, discussing, among other topics, models of endogenous technological progress (with an expanded discussion in this edition of the role of outside competition in the growth process), technological diffusion, and an endogenous determination of labor supply and population.The authors then explain the essentials of growth accounting and apply this framework to endogenous growth models.The final chapters cover empirical analysis of regions and empirical evidence on economic growth for a broad panel of countries from 1960 to 2000.The updated treatment of cross-country growth regressions for this edition uses the new Summers-Heston data set on world income distribution compiled through 2000.
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Economic Development
Economic Development, the leading textbook in this field, provides you with a complete and balanced introduction to the requisite theory, driving policy issues, and latest research.Todaro and Smith take a policy-oriented approach, presenting economic theory in the context of critical policy debates and country-specific case studies, to show how theory relates to the problems and prospects of developing countries.
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What is economic sustainability?
Economic sustainability refers to the ability of an economy to support current and future generations by balancing economic growth with social and environmental responsibility. It involves ensuring that resources are used efficiently and equitably to meet the needs of the present without compromising the ability of future generations to meet their own needs. This includes promoting long-term economic development, reducing inequality, and minimizing negative impacts on the environment. Overall, economic sustainability aims to create a stable and resilient economy that can thrive over the long term.
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How are economic cycles and economic growth related?
Economic cycles and economic growth are closely related. Economic cycles refer to the fluctuations in economic activity, including periods of expansion and contraction. Economic growth, on the other hand, refers to the long-term increase in a country's output of goods and services. During an economic expansion phase of the cycle, there is typically higher economic growth, as businesses invest and consumer spending increases. Conversely, during a contraction phase, economic growth tends to slow down or even turn negative. Therefore, economic cycles can have a significant impact on the overall level of economic growth in a country.
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How does economic growth occur in the economic cycle?
Economic growth occurs in the economic cycle through a combination of factors. During the expansion phase of the cycle, businesses invest in new equipment and technology, leading to increased productivity and output. This increased production leads to higher employment levels and consumer spending, further fueling economic growth. Additionally, during this phase, consumer and business confidence is high, leading to increased investment and spending. Overall, economic growth occurs as a result of increased production, employment, and investment during the expansion phase of the economic cycle.
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Is sustainable economic growth unrealistic?
Sustainable economic growth is not unrealistic, but it requires a shift in mindset and practices towards more environmentally friendly and socially responsible approaches. By prioritizing long-term benefits over short-term gains, investing in renewable resources, and promoting fair trade practices, sustainable economic growth can be achieved. It may require sacrifices and changes in current economic models, but with collective effort and commitment, it is possible to create a more sustainable and equitable economy for future generations.
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The Role of Innovation and Entrepreneurship in Economic Growth
This volume presents studies from experts in twelve industries, providing insights into the future role of innovation and entrepreneurship in driving economic growth across sectors. We live in an era in which innovation and entrepreneurship seem ubiquitous, particularly in regions like Silicon Valley, Boston, and the Research Triangle Park.But many metrics of economic growth, such as productivity growth and business dynamism, have been at best modest in recent years.The resolution of this apparent paradox is dramatic heterogeneity across sectors, with some industries seeing robust innovation and entrepreneurship and others seeing stagnation.By construction, the impact of innovation and entrepreneurship on overall economic performance is the cumulative impact of their effects on individual sectors.Understanding the potential for growth in the aggregate economy depends, therefore, on understanding the sector-by-sector potential for growth.This insight motivates the twelve studies of different sectors that are presented in this volume.Each study identifies specific productivity improvements enabled by innovation and entrepreneurship, for example as a result of new production technologies, increased competition, or new organizational forms.These twelve studies, along with three synthetic chapters, provide new insights on the sectoral patterns and concentration of the contributions of innovation and entrepreneurship to economic growth.
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Waqf Development and Innovation : Socio-Economic and Legal Perspectives
Waqf is one of the most potent socio-economic tools for reducing public sector deficit and breaking the chain of intergenerational poverty.Providing a high-level discussion on waqf development and innovation within the context of modern socio-economic and legal developments, this book examines the importance and potentials of waqf and the issues relating to its legal and regulatory framework. The research delivers future directions for countries that plan to explore this socio-economic institution.Readers and policymakers will be able to replicate successful experiments and learn from some failed initiatives to seek alternative funding platforms to support the fiscal policies of developing countries.The volume discusses the relevance and novel application of waqf in the modern economic system and social development, it reviews applicable laws and regulations pertaining to waqf and trust laws and examines critical, cross-country case studies and experiences. Setting an agenda for further researchers in the field of waqf, this comprehensive high-level analysis, with case studies from leading jurisdictions across the world, is a key resource for researchers, policymakers and institutions interested in charitable endowments, Islamic finance, and social finance.
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Essentials of Economic Sustainability
The recent global financial crisis has raised widespread concern for the sustainability of the global economy.Much has been written concerning the negative impacts of economic development on natural ecosystems and civil societies.Unfortunately, few viable alternatives to the prevailing economic paradigms have been suggested for consideration.Those that have been are typically little more than suggestions for fine tuning capitalist or socialist economies. In his new book, John Ikerd addresses the basic principles and concepts essential to economic sustainability.Some of these concepts are capitalist, some are socialistic, and others are general principles validated by philosophy or common sense.What results is a synthesis: something that is neither capitalist nor socialist but fundamentally different; it is sustainable.A special emphasis is placed on the essential, but limited, role of markets in economic sustainability, including the constraints that must be placed on markets to protect nature and society from economic exploitation. Readers of any political and ideological persuasion will find this brief book engaging, informative, optimistic and refreshing.Instead of threats and apocalyptic pronouncements, Ikerd offers possibilities and assurance.Instead of epithets hurled at opponents, Ikerd offers possibilities for reconciliation and a renewed sense of the need to work co-operatively to find solutions to the most urgent problems of our era.
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Dynamism : The Values That Drive Innovation, Job Satisfaction, and Economic Growth
Nobel Laureate Edmund Phelps and an international group of economists argue that economic health depends on the widespread presence of certain values, in particular individualism and self-expression. Nobel Laureate Edmund Phelps has long argued that the high level of innovation in the lead nations of the West was never a result of scientific discoveries plus entrepreneurship, as Schumpeter thought.Rather, modern values—particularly the individualism, vitalism, and self-expression prevailing among the people—fueled the dynamism needed for widespread, indigenous innovation.Yet finding links between nations’ values and their dynamism was a daunting task.Now, in Dynamism, Phelps and a trio of coauthors take it on. Phelps, Raicho Bojilov, Hian Teck Hoon, and Gylfi Zoega find evidence that differences in nations’ values matter—and quite a lot.It is no accident that the most innovative countries in the West were rich in values fueling dynamism.Nor is it an accident that economic dynamism in the United States, Britain, and France has suffered as state-centered and communitarian values have moved to the fore. The authors lay out their argument in three parts.In the first two, they extract from productivity data time series on indigenous innovation, then test the thesis on the link between values and innovation to find which values are positively and which are negatively linked.In the third part, they consider the effects of robots on innovation and wages, arguing that, even though many workers may be replaced rather than helped by robots, the long-term effects may be better than we have feared.Itself a significant display of creativity and innovation, Dynamism will stand as a key statement of the cultural preconditions for a healthy society and rewarding work.
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What is appropriate economic growth?
Appropriate economic growth is a sustainable increase in the production and consumption of goods and services that benefits the overall well-being of society. It should be inclusive, meaning that it benefits all members of society and reduces inequality. Additionally, it should be environmentally sustainable, meaning that it does not deplete natural resources or harm the environment. Appropriate economic growth also takes into account social factors such as health, education, and quality of life, rather than just focusing on increasing GDP.
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Is infinite economic growth possible?
Infinite economic growth is not possible in a finite world with limited resources. The Earth has finite resources such as land, water, and minerals, and the environment has a limited capacity to absorb waste and pollution. Therefore, pursuing infinite economic growth would eventually lead to the depletion of resources and irreversible damage to the environment. Instead, a more sustainable approach to economic development that considers the finite nature of resources and the need to protect the environment is necessary for long-term prosperity.
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How can sustainable economic activity be reconciled with simultaneous economic growth?
Sustainable economic activity can be reconciled with simultaneous economic growth by implementing policies and practices that prioritize environmental and social considerations alongside economic development. This can include investing in renewable energy, promoting sustainable agriculture, and implementing regulations to reduce pollution and waste. Additionally, businesses can adopt sustainable practices such as reducing energy consumption, minimizing waste, and promoting fair labor practices. By integrating sustainability into economic decision-making, it is possible to achieve economic growth while also preserving natural resources and promoting social well-being for future generations.
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Which companies have high economic growth?
Companies that have high economic growth typically belong to sectors such as technology, healthcare, and consumer goods. Some examples of companies with high economic growth include Amazon, Apple, Tesla, and Netflix in the technology sector, Moderna and Pfizer in healthcare, and Nike and Lululemon in consumer goods. These companies have shown strong revenue growth, innovation, and market dominance, leading to their high economic growth.
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