1745796
9783540675631
Four stylised facts of aggregate economic growth are set up initially. The growth process if interpreted to represent transitional dynamics rather than balanced-growth equilibria. Against this background, the fundamental importance of subsistence consumption is comprehensively analysed. Subsequently, the meaning of the productive-consumption hypothesis for the intertemporal consumption trade-off & the growth process is investigated. Finally, the process of growth is analysed empirically by means of cross-sectional conditional convergence regressions with endogenous control variables.Alcindo F. Ferreira is the author of 'Document Management for Hypermedia Design', published 1997 under ISBN 9783540675631 and ISBN 3540675639.
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