D2BB7D90d01 - Growth: Long-run economic performance What...

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Growth: Long-run economic performance
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Global Business Environment What Can Growth Theory Tell Us? Why have East Asian countries grown so quickly? What produces a growth miracle? To what extent can other countries replicate this experience? Why do some countries get trapped in poverty?
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Global Business Environment Long-Run Growth: The Facts Enormous variation in incomes across countries. Large variation in growth rates. Most poor countries grow slowly. Most rich countries grow moderately. A few previously poor countries grow very fast. Current growth is explosive by historical standards.
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Global Business Environment An Overview of Growth Topics Today: Where does growth come from? A simple model. Can increases in capital and labor sustain growth? How does technological progress propel growth: The idea of increasing returns. What kinds of institutions and policies promote growth?
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Global Business Environment Building a Model of the Economy Inputs (K,L) Outputs (Y) Production F(K,L) Consumption (G C + C) I n v e s t m ( ) Imports/Exports
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Production F(K,L): How much output do I produce with given capital and labor? A technology. Two key concepts: returns to scale and
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D2BB7D90d01 - Growth: Long-run economic performance What...

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