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Can Economic Growth Be Sustained?The Collected Papers of Vernon W. Ruttan and Yujiro Hayami$
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Keijiro Otsuka and C. Ford Runge

Print publication date: 2011

Print ISBN-13: 9780199754359

Published to Oxford Scholarship Online: April 2015

DOI: 10.1093/acprof:osobl/9780199754359.001.0001

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The New Growth Theory and Development Economics

The New Growth Theory and Development Economics

A Survey

Chapter:
(p.261) Chapter 14 The New Growth Theory and Development Economics
Source:
Can Economic Growth Be Sustained?
Author(s):

Vernon W. Ruttan

Publisher:
Oxford University Press
DOI:10.1093/acprof:osobl/9780199754359.003.0014

This chapter outlines what development economists should learn from the new growth economics. Growth economists view development economics literature as lacking in objectivity and burdened with irrelevant organizational and behavioral detail, while development economists feel that the only message growth economists provide is with respect to the level of interest rates. With the emergence of a new and richer growth economics literature, the possibilities of a more fruitful dialogue between growth and development economics may be possible.

Keywords:   growth economics literature, growth economists, development economists, interest rates, growth economics, development economics

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