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In the Solow-Swan model, economic growth is driven by the accumulation of physical capital until this optimum level of capital per worker, which is the "steady state" is reached, where output, consumption and capital are constant. The model predicts more rapid growth when the level of physical capital per capita is low, something often referred ...
"The life and time of Ragnar Nurkse" (PDF). Conference on "Ragnar Nurkse (1907–2007): Classical Development Economics and Its Relevance for Today" ,Tallinn, 31 August – 1 September 2007. Archived from the original (PDF) on 17 May 2012 "Ragnar Nurkse's Development Theory" (PDF). Bremen University of Applied Sciences.
The Elephant Curve, also known as the Lakner-Milanovic graph or the global growth incidence curve, is a graph that illustrates the unequal distribution of income growth for individuals belonging to different income groups. [1] The original graph was published in 2013 and illustrates the change in income growth that occurred from 1988 to 2008.
The "rate" of economic growth refers to the geometric annual rate of growth in GDP or GDP per capita between the first and the last year over a period of time. This growth rate represents the trend in the average level of GDP over the period, and ignores any fluctuations in the GDP around this trend.
The growth accounting procedure proceeds as follows. First is calculated the growth rates for the output and the inputs by dividing the Period 2 numbers with the Period 1 numbers. Then the weights of inputs are computed as input shares of the total input (Period 1). Weighted growth rates (WG) are obtained by weighting growth rates with the weights.
RGR is a concept relevant in cases where the increase in a state variable over time is proportional to the value of that state variable at the beginning of a time period. In terms of differential equations , if S {\displaystyle S} is the current size, and d S d t {\displaystyle {\frac {dS}{dt}}} its growth rate, then relative growth rate is
In this way, "post-growth" does not specify the answer to the limits-to-growth challenge, as "steady state economics" and "degrowth" attempt to do, but rather, seeks to understand and address this challenge from an evolving complex systems perspective. With this perspective, post-growth deals with all aspects of self and society (such as ...
[citation needed] Conversely, policies that have the effect of restricting or slowing change by protecting or favouring particular existing industries or firms are likely, over time, to slow growth to the disadvantage of the community. Peter Howitt has written: Sustained economic growth is everywhere and always a process of continual ...