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Economic Growth Redistribution, Growth and Welfare Lecture Topics Poverty, growth and welfare, Regulation and development, Media and public policy, Property rights, Asset redistribution, Credit and MicroF- nance, Human capital, Openness and economic performance, Intra-household allocation, Poverty and undernutrition, Social networks, Decentralization and NGOs. 1.1 Economic Growth Is there some action a government of India could take that would lead the Indian economy to grow like Indonesia’s or Egypt’s? If so, what exactly? If not, what is it about the “nature of In- dia” that makes it so? The consequences for human welfare involved in questions like these are simply staggering. Once
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Unformatted text preview: starts to think about them, it is hard to think about anything else.-Robert E. Lucas Aggregate Production unction: Y t = A t K t H t L ( 1 ) t where A t is the technology, K t the capital, H t the human capital and L t the labour at time period t . The aggregate production function suggests that differences in income across countries are due to: capital stocks includes public capital human capital stocks difference in technology Almost impossible to measure stocks accurately, but national accounts try to do so. Development Economics, LSE Summer School 2007 2...
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