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Item Details
Title: RAPID GROWTH AND RELATIVE DECLINE
MODELLING MACROECONOMIC DYNAMICS WITH HYSTERESIS
By: Mark Setterfield
Format: Hardback

List price: £57.50


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ISBN 10: 0333637364
ISBN 13: 9780333637364
Publisher: PALGRAVE MACMILLAN
Pub. date: 18 December, 1996
Pages: 224
Description: Do high rates of economic growth create conditions favourable to their own maintenance? Or can a period of high growth sow the seeds of its own destruction? This book addresses these questions by conceiving growth and structural change as path dependent processes.
Synopsis: Do high rates of economic growth create conditions favourable to their own maintenance? Or can a period of high growth 'sow the seeds of its own destruction'? This book addresses these questions by conceiving growth and structural change as path dependent processes. Methodological, theoretical and empirical insights are combined in an extended model of cumulative causation, which shows how endogenously induced technological and institutional changes may cause the dynamics of a period of high growth to break down. This casts new light on the debate over Britain's economic decline.
Illustrations: tables, index
Publication: UK
Imprint: Palgrave Macmillan
Returns: Non-returnable
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