Chapter 4: Theories of Economic Growth
Chapter Learning Objectives
After reading the chapter, you ought to understand and be able to explain:
- The implications for developing countries of the basic Harrod-Domar
model of growth.
- The implications for developing countries of the basic Solow model of
growth and its extension to accommodate exogenous technological
progress.
- Endogenous growth models that account for self-generated technological progress, and its implications including the possibility of a permanent increase in the rate of economic growth.
- Explain the process by which surplus labor is mobilized to finance industrialization in the labor-surplus two-sector model of Lewis, Ranis, and Fei.
- Contrast the assumptions and conclusions of the neoclassical two-sector model with the labor-surplus model.
Section Menu
Organize
Learn
Connect
Instructors now have an easy way to collect students’ online quizzes with the Norton Gradebook without flooding their inboxes with e-mails.
Students can track their online quiz scores by setting up their own Student Gradebook.
NOTE TO INSTRUCTORS: the answers to the Exercises are found on the Norton Resource Library, not the Gradebook. To access that go to www.wwnorton.com/nrl.