This book reconstructs Keynesian macroeconomics so that it is compatible with the neoclassical dynamic microeconomic theory. This theory adopts three postulates: rational expectations, perfect price flexibility, and exclusion of the money in utility function (MIU). Based on the new theoretical...

Arup Mitra is a professor of Economics at the Institute of Economic Growth, Delhi. His research interest include issues in the area of urban development, labour and welfare, industrial growth and productivity and gender inequality. He has published in a number of international and national...

Recent developments in economics have gone from the recognition of the importance of innovation for growth and the exploration of innovation mechanisms to the incorporation of the results of the previous research into economic models. An important lesson to be drawn from all this research is...

Talks about the relationship between FDI and economic growth with special attention to Central and Eastern Europe countries. With the help of modern panel data econometrics, this book carries out empirical evidence of growth enhancing effect of FDI in the transition countries, and explains for...

Reviews standard economic growth models concentrating on the relationship between population ageing and economic growth and develop a growth model with endogenous human capital and endogenous fertility. This work uses this model to analyse the effects of education policy and family policy on...

The development of international trade theory has created a wide array of different theories, concepts and results. Economic students are trained to understand international interactions by severally incompatible theories one by one in the same course. In order to overcome incoherence among...

This book provides detailed empirical analysis of countries in Asia to examine various dynamic models that incorporate the impact of technology and innovations on the industry evolution and overall economic growth

The book constructs the Synergy Theory, a new theory of economic growth and calculation methodology. The book involves empirical comparative study on economic growth between China and the 14 developed countries, and on the basis of the synergy theory, divides GDP into labor compensation, capital...

Economists have long sought to maximise economic growth, believing this to be their best contribution to improving human welfare. That approach is not sustainable in the face of ongoing issues such as global climate change, environmental damage, rising inequality and enduring poverty....

This book finds that the R&D and technological innovation of a country is not a result, but a factor, of sustained economic growth. Bazhal develops Schumpeter's theory to argue that genuine economic growth - especially in transitioning and developing countries - is only possible with innovation....