Economic Development: A Regional, Institutional, and Historical ApproachM.E. Sharpe, 2013 - 296 pages The second edition of this innovative and affordable book integrates environmental and financial sustainability into its distinctive regional approach. By focusing on political economy in its cultural, religious and historical roots, as well as leadership decisions, it spurs critical thinking. Working through the unique development paths of individual countries, the authors foster integrative thinking and a strong sense of realism about both the prospects and challenges of economic development in the rapidly evolving global economy. The book is exceptional in both its theoretical nuance and accessible writing. An Instructors Manual with discussion questions, a test bank, and PowerPoint slides is available online to professors who adopt the text. |
From inside the book
Results 1-5 of 30
Page xi
... Diminishing Returns 14 4.1 Law of Diminishing Returns: Soviet Union and Eastern Europe 102 4.2 Growth Rates: Select Socialist Countries 103 4.3 Annual Growth Rates 104 4.4 China's Performance 111 5.1 Urbanization 146 5.2 Net ...
... Diminishing Returns 14 4.1 Law of Diminishing Returns: Soviet Union and Eastern Europe 102 4.2 Growth Rates: Select Socialist Countries 103 4.3 Annual Growth Rates 104 4.4 China's Performance 111 5.1 Urbanization 146 5.2 Net ...
Page 5
... diminishing returns. In the 1970s, interest shifted from growth theory to monetary theories, business cycles, and rational-expectation theories. In the early 1980s, interest in real factors gained in importance over monetary factors. In ...
... diminishing returns. In the 1970s, interest shifted from growth theory to monetary theories, business cycles, and rational-expectation theories. In the early 1980s, interest in real factors gained in importance over monetary factors. In ...
Page 13
... and division of labor did not occur to any significant extent. However, the growth of factories and mass production employed Table 1.2 Law of Diminishing Returns Labor Land Total output INTRODUCTION TO ECONOMIC DEVELOPMENT 13.
... and division of labor did not occur to any significant extent. However, the growth of factories and mass production employed Table 1.2 Law of Diminishing Returns Labor Land Total output INTRODUCTION TO ECONOMIC DEVELOPMENT 13.
Page 14
... Diminishing Returns Labor Land Total output MPL APL 1 1 30 30 2 1 45 15 22-1/2 3 1 55 10 18-1/3 4 1 60 5 15 MPL= marginal product of labor; APL = average product of labor. unskilled labor rather than skilled labor via the apprenticeship ...
... Diminishing Returns Labor Land Total output MPL APL 1 1 30 30 2 1 45 15 22-1/2 3 1 55 10 18-1/3 4 1 60 5 15 MPL= marginal product of labor; APL = average product of labor. unskilled labor rather than skilled labor via the apprenticeship ...
Page 15
... diminishing returns. The great political debate in England at the time concerned the Corn Laws, which levied a tax on foreign-produced grain, thus protecting the English agricultural sector and raising the cost of grain to workers ...
... diminishing returns. The great political debate in England at the time concerned the Corn Laws, which levied a tax on foreign-produced grain, thus protecting the English agricultural sector and raising the cost of grain to workers ...
Contents
3 | |
2 European Emergence | 29 |
3 East Asian Experience | 59 |
Socialist to Market | 97 |
5 SubSaharan Africa | 133 |
6 South Asia | 169 |
7 Latin America | 199 |
8 The Middle East and North Africa | 225 |
What Have We Learned? | 247 |
Index | 257 |
About the Authors | 277 |
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Common terms and phrases
accumulation agricultural productivity agricultural sector areas argued Botswana capital accumulation China Chinese colonial commitment problem costs created decline demographic dividend dependency theorists dependent developing countries diminishing returns discussed domestic dramatically economic development economic growth efflorescence England environment environmental Europe European expansion experience exports extract factors firms GDP per capita growth rate impact important incentive increased India Industrial Revolution industrialization inputs institutional structure investment involved Japan Japanese Kuznets Curve labor land Latin America law of diminishing lineage groups manufacturing MENA modern sector occur output patron-client per-capita GDP per-capita income percent period periphery policies political population growth poverty predatory profit property rights protoindustrial reduce reform region relatively rent seeking result revenue role ruling elite rural significant Smithian growth social society South Asia South Korea Soviet Union sub-Saharan Africa Taiwan theory tion trade transition urban wealth workers