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Robert J. Barro

Determinants of Economic Growth: A Cross-Country Empirical Study (Lionel Robbins Lectures)

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ISBN: 0262522543
Издательство: MIT Press
Research on economic growth has exploded in the past decade. Hundreds of empirical studies on economic growth across countries have highlighted the correlation between growth and a variety of variables. Determinants of Economic Growth , based on Robert Barro's Lionel Robbins Memorial Lectures, delivered at the London School of Economics in February 1996, summarizes this important literature. The book contains three essays. The first is a survey of the research on the determinants of long-run growth through the estimation of panels of cross-country data. The second essay details the interplay between growth and political freedom or democracy and finds some evidence of a nonlinear relationship. At low levels of political rights, an expansion of rights stimulates growth; however, once a moderate level of democracy has been obtained, a further expansion of rights reduces growth. The final essay looks at the connection between inflation and economic growth. Its basic...