Structural Economic Dynamics

Structural Economic Dynamics

This book is a theoretical investigation of the influence of human learning on the development through time of a 'pure labour' economy. The theory proposed is a simple one, but aims to grasp the essential features of all industrial economies. Economists have long known that two basic phenomena lie at the root of long-term economic movements in industrial societies: capital accumulation and technical progress. Attention has been concentrated on the former. In this book, by contrast, technical progress is assigned the central role. Within a multi-sector framework, the author examines the structural dynamics of prices, production and employment (implied by differentiated rates of productivity growth and expansion of demand) against a background of 'natural' relations. He also considers a number of institutional problems. Institutional and social learning, know-how, and the diffusion of knowledge emerge as the decisive factors accounting for the success and failure of industrial societies.

Production and Economic Dynamics

Production and Economic Dynamics

This volume is inspired by developments in two strands of economic theorising. Firstly, research on structural economic dynamics based on three sources: Hicks' work on traverse analysis, Pasinetti on disproportional growth and Goodwin on dynamic decomposition and economic fluctuations. The second strand goes back to Georgescu-Roegen's interest in an organisational theory of production based upon the interrelationship between tasks, fund factors and material transformations. The approach taken involves a comprehensive view of sub-units of the whole economic system (such as processes, industries, vertically integrated sectors, eigensectors) representing dynamics of structural adaptation and compositional change. Furthermore, a detailed representation of micro-organisational features leads to the analysis of networks and networking processes within and amongst such sub-units.

Structural Dynamics and Economic Growth

Structural Dynamics and Economic Growth

Ever since Adam Smith, economists have been preoccupied with the puzzle of economic growth. The standard mainstream models of economic growth were and often still are based either on assumptions of diminishing returns on capital with technological innovation or on endogenous dynamics combined with a corresponding technological and institutional setting. An alternative model of economic growth emerged from the Cambridge School of Keynesian economists in the 1950s and 1960s. This model - developed mainly by Luigi Pasinetti - emphasizes the importance of demand, human learning and the growth dynamics of industrial systems. Finally, in the past decade, new mainstream models have emerged incorporating technology or demand-based structural change and extending the notion of balanced growth. This collection of essays reassesses Pasinetti's theory of structural dynamics in the context of these recent developments, with contributions from economists writing in both the mainstream and the Cambridge Keynesian traditions and including Luigi Pasinetti, William Baumol, Geoffrey Harcourt and Nobel laureate Robert Solow.

Structural Economics

Measuring Change in Technology, Lifestyles, and the Environment

Structural Economics

Structural economics is a quantitative methodology for analyzing relations among the economic system, the broader societal framework, and the physical environment. In this volume, Duchin explains why this new approach is needed and provides the conceptual background necessary for understanding it.

Economics of Structural and Technological Change

Economics of Structural and Technological Change

Technology has long been seen as a path to economic growth. However there is considerable debate about the exact nature of this relationship. Economics of Structural and Technological Change employs a wide range of theoretical and applied approaches to explore the concept of technological change. The book begins with a series of in-depth discussions of the economic analysis of technological change. The second section contains a discussion of theoretical models of technological change, focusing on issues such as time and innovation. The third section brings together a number of applied analyses of technological change and examines the effect of factors such as human resource constraints, patenting and science and technology indicators.

Digital Economic Dynamics

Innovations, Networks and Regulations

Digital Economic Dynamics

This book analyzes the dynamics and impacts of software development and discusses new institutional and economic changes in the context of digital market economies. Regulatory approaches in OECD countries are compared and country studies evaluated with respect to innovation and welfare aspects. The book furthermore examines telecommunications regulation of fixed line networks, cable TV and mobile communications. Also discusses the role of EU framework regulation and issues of market power.

Structural Change and Exchange Rate Dynamics

The Economics of EU Eastern Enlargement

Structural Change and Exchange Rate Dynamics

Structural change, economic growth and adequate exchange rate adjustment are key challenges in the context of EU eastern enlargement as are consistent macroeconomic policies. The authors focus on sectoral adjustment across industries in catching-up countries and explain changes in the composition of output – this includes new aspects of the Chenery model. They describe and analyze the spatial pattern of specialization and adjustment in many countries. Theoretical and empirical analysis of foreign direct investment, innovation and structural change shed new light on economic dynamics in Old Europe and New Europe. As regards exchange rate dynamics both traditional aspects (such as the Balassa-Samuelson effect) and new approaches to understanding exchange rate developments are presented. Links between exchange rate changes and innovation are particularly emphasized.

Sri Lanka's Development Since Independence

Socio-economic Perspectives and Analyses

Sri Lanka's Development Since Independence

This book provides an overview of the development of a small country, which on the one hand, is unique, and on the other hand, is also an interesting reflection and microcosm of the global economy. Sri Lanka's development is one of contrasts, complicated by social conflicts and ethnic tensions. The approach taken to analysing Sri Lanka's developments are considered as well as the evolution of science and arts in the development process. This is in accordance with the Sri Lankan tradition of seeing the world as a connected whole.

50 Years of EU Economic Dynamics

Integration, Financial Markets and Innovations

50 Years of EU Economic Dynamics

Experts present their analyses of historical developments as well as new economic challenges for the European Union. Contributors, representatives from major banks and academia, point out the dramatic economic shifts among and within Europe, Asia, and the United States. At the bottom line of this EU analysis are major implications for investors, managers, policymakers, and the public at large in both the EU and the rest of the world.