Download or read book A Culture of Growth written by Joel Mokyr and published by Princeton University Press. This book was released on 2016-11-15 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why Enlightenment culture sparked the Industrial Revolution During the late eighteenth century, innovations in Europe triggered the Industrial Revolution and the sustained economic progress that spread across the globe. While much has been made of the details of the Industrial Revolution, what remains a mystery is why it took place at all. Why did this revolution begin in the West and not elsewhere, and why did it continue, leading to today's unprecedented prosperity? In this groundbreaking book, celebrated economic historian Joel Mokyr argues that a culture of growth specific to early modern Europe and the European Enlightenment laid the foundations for the scientific advances and pioneering inventions that would instigate explosive technological and economic development. Bringing together economics, the history of science and technology, and models of cultural evolution, Mokyr demonstrates that culture—the beliefs, values, and preferences in society that are capable of changing behavior—was a deciding factor in societal transformations. Mokyr looks at the period 1500–1700 to show that a politically fragmented Europe fostered a competitive "market for ideas" and a willingness to investigate the secrets of nature. At the same time, a transnational community of brilliant thinkers known as the “Republic of Letters” freely circulated and distributed ideas and writings. This political fragmentation and the supportive intellectual environment explain how the Industrial Revolution happened in Europe but not China, despite similar levels of technology and intellectual activity. In Europe, heterodox and creative thinkers could find sanctuary in other countries and spread their thinking across borders. In contrast, China’s version of the Enlightenment remained controlled by the ruling elite. Combining ideas from economics and cultural evolution, A Culture of Growth provides startling reasons for why the foundations of our modern economy were laid in the mere two centuries between Columbus and Newton.

Download or read book Financial Systems and Economic Growth written by Peter L. Rousseau and published by Cambridge University Press. This book was released on 2017-09 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents essays that take a historical look at aspects of the finance-growth nexus.

Download or read book Introduction to Modern Economic Growth written by Daron Acemoglu and published by Princeton University Press. This book was released on 2008-12-15 with total page 1009 pages. Available in PDF, EPUB and Kindle. Book excerpt: From Nobel Prize–winning economist Daron Acemoglu, an incisive introduction to economic growth Introduction to Modern Economic Growth is a groundbreaking text from one of today's leading economists. Daron Acemoglu gives graduate students not only the tools to analyze growth and related macroeconomic problems, but also the broad perspective needed to apply those tools to the big-picture questions of growth and divergence. And he introduces the economic and mathematical foundations of modern growth theory and macroeconomics in a rigorous but easy to follow manner. After covering the necessary background on dynamic general equilibrium and dynamic optimization, the book presents the basic workhorse models of growth and takes students to the frontier areas of growth theory, including models of human capital, endogenous technological change, technology transfer, international trade, economic development, and political economy. The book integrates these theories with data and shows how theoretical approaches can lead to better perspectives on the fundamental causes of economic growth and the wealth of nations. Innovative and authoritative, this book is likely to shape how economic growth is taught and learned for years to come. Introduces all the foundations for understanding economic growth and dynamic macroeconomic analysis Focuses on the big-picture questions of economic growth Provides mathematical foundations Presents dynamic general equilibrium Covers models such as basic Solow, neoclassical growth, and overlapping generations, as well as models of endogenous technology and international linkages Addresses frontier research areas such as international linkages, international trade, political economy, and economic development and structural change An accompanying Student Solutions Manual containing the answers to selected exercises is available (978-0-691-14163-3/$24.95). See: https://press.princeton.edu/titles/8970.html For Professors only: To access a complete solutions manual online, email us at: [email protected]

Download or read book Finance and Growth written by Ross Levine and published by . This book was released on 2004 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper reviews, appraises, and critiques theoretical and empirical research on the connections between the operation of the financial system and economic growth. While subject to ample qualifications and countervailing views, the preponderance of evidence suggests that both financial intermediaries and markets matter for growth and that reverse causality alone is not driving this relationship. Furthermore, theory and evidence imply that better developed financial systems ease external financing constraints facing firms, which illuminates one mechanism through which financial development influences economic growth. The paper highlights many areas needing additional research"--NBER website

Download or read book Contemporary Issues in Development Finance written by Joshua Yindenaba Abor and published by Routledge. This book was released on 2020-12-29 with total page 461 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contemporary Issues in Development Finance provides comprehensive and up-to-date coverage of theoretical and policy issues in development finance from both the domestic and the external finance perspectives and emphasizes addressing the gaps in financial markets. The chapters cover topical issues such as microfinance, private sector financing, aid, FDI, remittances, sovereign wealth, trade finance, and the sectoral financing of agricultural and infrastructural projects. Readers will acquire both breadth and depth of knowledge in critical and contemporary issues in development finance from a philosophical and yet pragmatic development impact approach. The text ensures this by carefully integrating the relevant theoretical underpinnings, empirical assessments, and practical policy issues into its analysis. The work is designed to be fully accessible to practitioners with only a limited theoretical economic background, allowing them to deeply engage with the book as useful reference material. Readers may find more advanced information and technical details provided in clear, concise boxes throughout the text. Finally, each chapter is fully supported by a set of review questions and by cases and examples from developing countries, particularly those in Africa. This book is a valuable resource for both development finance researchers and students taking courses in development finance, development economics, international finance, financial development policy, and economic policy management. Practitioners will find the development impact, policy, and conceptual analysis dimensions insightful analysing and designing intervention strategies.

Download or read book Modern Economic Growth written by Simon Smith Kuznets and published by . This book was released on 1966 with total page 529 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Role of Innovation and Entrepreneurship in Economic Growth written by Michael J Andrews and published by University of Chicago Press. This book was released on 2022-03-17 with total page 633 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Innovation and entrepreneurship are ubiquitous today, both as fields of study and as starting points for conversations among experts in government and economic development. But while these areas on continue to attract public and private investments, many measurements of their resulting economic growth-including productivity growth and business dynamism-have remained modest. Why this difference? Because not all business sectors are the same, and the transformative gains of some industries have been offset by stagnation or contraction in others. Accordingly, a nuanced understanding of the economy requires a nuanced understanding of where innovation and entrepreneurship occur and where they matter. Answering these questions allows for strategic public investment and the infrastructure for economic growth.The Role of Innovation and Entrepreneurship in Economic Growth, the latest entry in the NBER conference series, seeks to codify these answers. The editors leverage industry studies to identify specific examples of productivity improvements enabled by innovation and entrepreneurship, including those from new production technologies, increased competition, new organizational forms, and other means. Taken together, the volume illuminates whether the contribution of innovation and entrepreneurship to economic growth is likely to be concentrated, be it selected sectors or more broadly"--

Download or read book Finance Development September 2014 written by International Monetary Fund. External Relations Dept. and published by International Monetary Fund. This book was released on 2014-08-25 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This chapter discusses various past and future aspects of the global economy. There has been a huge transformation of the global economy in the last several years. Articles on the future of energy in the global economy by Jeffrey Ball and on measuring inequality by Jonathan Ostry and Andrew Berg are also illustrated. Since the 2008 global crisis, global economists must change the way they look at the world.

Download or read book The Future of Money written by Eswar S. Prasad and published by Harvard University Press. This book was released on 2021-09-28 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: A cutting-edge look at how accelerating financial change, from the end of cash to the rise of cryptocurrencies, will transform economies for better and worse. We think weÕve seen financial innovation. We bank from laptops and buy coffee with the wave of a phone. But these are minor miracles compared with the dizzying experiments now underway around the globe, as businesses and governments alike embrace the possibilities of new financial technologies. As Eswar Prasad explains, the world of finance is at the threshold of major disruption that will affect corporations, bankers, states, and indeed all of us. The transformation of money will fundamentally rewrite how ordinary people live. Above all, Prasad foresees the end of physical cash. The driving force wonÕt be phones or credit cards but rather central banks, spurred by the emergence of cryptocurrencies to develop their own, more stable digital currencies. Meanwhile, cryptocurrencies themselves will evolve unpredictably as global corporations like Facebook and Amazon join the game. The changes will be accompanied by snowballing innovations that are reshaping finance and have already begun to revolutionize how we invest, trade, insure, and manage risk. Prasad shows how these and other changes will redefine the very concept of money, unbundling its traditional functions as a unit of account, medium of exchange, and store of value. The promise lies in greater efficiency and flexibility, increased sensitivity to the needs of diverse consumers, and improved market access for the unbanked. The risk is instability, lack of accountability, and erosion of privacy. A lucid, visionary work, The Future of Money shows how to maximize the best and guard against the worst of what is to come.

Download or read book Finance and Growth written by Asli Demirgüç-Kunt and published by . This book was released on 2018-07-27 with total page 1616 pages. Available in PDF, EPUB and Kindle. Book excerpt: This two-volume collection brings together major contributions to the study of finance and growth. It includes conceptual and empirical papers that use a range of methodologies to discover the connections between financial systems - including financial contracts, markets, and intermediaries - and the functioning of the economy - including economic growth, entrepreneurship, technological innovation, poverty alleviation, the distribution of income, and the structure and volatility of economies. It also discusses contributions to the study of the legal, political, institutional, social capital and policy determinants of financial development. With an original introduction by the editors, this collection is an important resource for students, academics and practitioners.

Download or read book The Deficit Myth written by Stephanie Kelton and published by PublicAffairs. This book was released on 2020-06-09 with total page 311 pages. Available in PDF, EPUB and Kindle. Book excerpt: A New York Times Bestseller The leading thinker and most visible public advocate of modern monetary theory -- the freshest and most important idea about economics in decades -- delivers a radically different, bold, new understanding for how to build a just and prosperous society. Stephanie Kelton's brilliant exploration of modern monetary theory (MMT) dramatically changes our understanding of how we can best deal with crucial issues ranging from poverty and inequality to creating jobs, expanding health care coverage, climate change, and building resilient infrastructure. Any ambitious proposal, however, inevitably runs into the buzz saw of how to find the money to pay for it, rooted in myths about deficits that are hobbling us as a country. Kelton busts through the myths that prevent us from taking action: that the federal government should budget like a household, that deficits will harm the next generation, crowd out private investment, and undermine long-term growth, and that entitlements are propelling us toward a grave fiscal crisis. MMT, as Kelton shows, shifts the terrain from narrow budgetary questions to one of broader economic and social benefits. With its important new ways of understanding money, taxes, and the critical role of deficit spending, MMT redefines how to responsibly use our resources so that we can maximize our potential as a society. MMT gives us the power to imagine a new politics and a new economy and move from a narrative of scarcity to one of opportunity.

Download or read book Public Goods Provision in the Early Modern Economy written by Masayuki Tanimoto and published by University of California Press. This book was released on 2018-12-04 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: At publication date, a free ebook version of this title will be available through Luminos, University of California Press’s Open Access publishing program. Visit www.luminosoa.org to learn more. Scholarly discussions on economic development in history, specifically those linked to industrialization or modern economic growth, have paid great attention to the formation and development of the market economy as a set of institutions able to augment people’s welfare. The role of specific nonmarket practices for promoting the economic development and welfare has been a distinct concern, typically involving discussion of the state’s economic policies. How have societies tackled those issues that the market did not? To what extent did those solutions reflect the structure of an economy? Public Goods Provision in the Early Modern Economy explores these questions by investigating efforts made for the provision of "public goods" in early modern economies from the perspective of Japanese socioeconomic history during Tokugawa era (1603–1868), and by comparing those cases with others from Europe and China’s economic history. The contributors focus on three areas of inquiry—early modern era welfare policies for the poor, infrastructure, and forest management—to provide both a unique perspective on Japanese public finance at local levels and a vantage point outside of Europe to encourage a more global view of early modern political economies that shaped subsequent modern transformations.

Download or read book Finance and the Good Society written by Robert J. Shiller and published by Princeton University Press. This book was released on 2013-04-21 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nobel Prize-winning economist explains why we need to reclaim finance for the common good The reputation of the financial industry could hardly be worse than it is today in the painful aftermath of the 2008 financial crisis. New York Times best-selling economist Robert Shiller is no apologist for the sins of finance—he is probably the only person to have predicted both the stock market bubble of 2000 and the real estate bubble that led up to the subprime mortgage meltdown. But in this important and timely book, Shiller argues that, rather than condemning finance, we need to reclaim it for the common good. He makes a powerful case for recognizing that finance, far from being a parasite on society, is one of the most powerful tools we have for solving our common problems and increasing the general well-being. We need more financial innovation—not less—and finance should play a larger role in helping society achieve its goals. Challenging the public and its leaders to rethink finance and its role in society, Shiller argues that finance should be defined not merely as the manipulation of money or the management of risk but as the stewardship of society's assets. He explains how people in financial careers—from CEO, investment manager, and banker to insurer, lawyer, and regulator—can and do manage, protect, and increase these assets. He describes how finance has historically contributed to the good of society through inventions such as insurance, mortgages, savings accounts, and pensions, and argues that we need to envision new ways to rechannel financial creativity to benefit society as a whole. Ultimately, Shiller shows how society can once again harness the power of finance for the greater good.

Download or read book Economic Growth and the Origins of Modern Political Economy written by Philipp R. Rössner and published by Routledge. This book was released on 2016-05-12 with total page 394 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic Growth and the Origins of Modern Political Economy addresses the intellectual foundations of modern economic growth and European industrialization. Through an examination both of the roots of European industrialization and of the history of economic ideas, this book presents a uniquely broad examination of the origins of modern political economy. This volume asks what can we learn from ‘old’ theories in terms of our understanding of history, our economic fate today, and the prospects for the modern world’s poorest countries. Spanning across the past five hundred years, this book brings together leading international contributors offering comparative perspectives with countries outside of Europe in order to place the evolution of modern economic knowledge into a broader reference framework. It integrates economic discourse and the intellectual history of political economy with more empirical studies in economic history and the history of science. In doing so, this innovative volume presents a coherent and innovative new strategy towards a reconfiguration of the history of modern political economy. This book is suitable for those who study history of economic thought, economic history or European history.

Download or read book Alexander Hamilton on Finance Credit and Debt written by Richard Sylla and published by Columbia University Press. This book was released on 2018-03-06 with total page 527 pages. Available in PDF, EPUB and Kindle. Book excerpt: “A treasure trove for financial and public policy geeks . . . will also help lay readers go beyond the hit musical in understanding Hamilton’s lasting significance.” —Publishers Weekly While serving as the first treasury secretary from 1789 to 1795, Alexander Hamilton engineered a financial revolution. He established the treasury debt market, the dollar, and a central bank, while strategically prompting private entrepreneurs to establish securities markets and stock exchanges and encouraging state governments to charter a number of commercial banks and other business corporations. Yet despite a recent surge of interest in Hamilton, US financial modernization has not been fully recognized as one of his greatest achievements. This book traces the development of Hamilton’s financial thinking, policies, and actions through a selection of his writings. Financial historians and Hamilton experts Richard Sylla and David J. Cowen provide commentary that demonstrates the impact Hamilton had on the modern economic system, guiding readers through Hamilton’s distinguished career. It showcases Hamilton’s thoughts on the nation’s founding, the need for a strong central government, problems such as a depreciating paper currency and weak public credit, and the architecture of the financial system. His great state papers on public credit, the national bank, the mint, and manufactures instructed reform of the nation’s finances and jumpstarted economic growth. Hamilton practiced what he preached: he played a key role in the founding of three banks and a manufacturing corporation—and his deft political maneuvering and economic savvy saved the fledgling republic’s economy during the country’s first full-blown financial crisis in 1792. “A fascinating examination of Hamiltonian economics.” —The Washington Times

Download or read book Banking on Growth Models written by Stephen Bell and published by Cornell University Press. This book was released on 2022-05-15 with total page 306 pages. Available in PDF, EPUB and Kindle. Book excerpt: Banking on Growth Models contends that China's rapid economic rise from the late 1970s to today has been built on and shaped by a highly politicized and inefficient bank-centric financial system. Stephen Bell and Hui Feng argue that if the Chinese growth model drives how key economic sectors interact, no amount of incremental reform can have much impact on the financial system—meaningful reform can stem only from a revised growth model. For a time after the global financial crisis, it appeared that the expansion of a more market-oriented shadow banking system might help sustain China's economic growth. Since around 2015, however, Xi Jinping's regime has reversed this trajectory and placed China's financial system under heavy state control, resulting in slowed economic development and skyrocketing national debt. China's market transition and economic rebalancing are now in doubt, as is the fate of the nation's economy. By pinpointing finance as a vital element of the growth model, Bell and Feng provide a convincing assessment of financial risks and the prospects for economic rebalancing in China. Banking on Growth Models demystifies the world of Chinese banking and finance as it investigates an ever-rising national debt, a declining rate of economic growth, and the possibility of dire and drastic reform by the Asian superpower's government.

Download or read book Regaining Global Stability After the Financial Crisis written by Sergi, Bruno and published by IGI Global. This book was released on 2018-04-06 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: The prosperity and stability of any economic structure is reliant upon a foundation of secure systems that regulate the movement of money across the globe. These structures have become an integral part of contemporary society by reducing monetary risk and increasing financial security. Regaining Global Stability After the Financial Crisis is a critical scholarly publication that examines the after-effects of the economic slowdown and the steps that have been taken to overcome the consequences of the slowdown as well as strategies to reduce its impact on economies and societies. Highlighting a wide range of topics including economic convergence, risk management, and public policy for financial stability, this book is geared toward academicians, practitioners, students, managers, and professionals in the financial sector seeking current research on regaining a sense of safety and security after a time of economic crisis.