The Growth of Nations
Textbook neoclassical theory. Household behavior. Theoretical objections. The magnitude of international differences. The rate of convergence. Rates of return. A new view of capital. The key role of the capital share. The studies of long-run growth.
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Review the countries with little industrial and economic activity and low incomes. Types of financial assets in the states. The main characteristics of poor countries. Currency boards and dollarization. Geography, human capital and institutions.
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