Most of the studies conducted to examine the growth performance of many developing economies are based on the traditional neoclassical growth frameworks. This book takes an alternative path. It employs a blend of historical, neoclassical, Kaldorian, and endogenous growth frameworks to shed further light on the growth process. Whereas most cross-sectional growth analyses tend to focus only on the steady state, this volume is one of the relative few that attempt to trace the whole growth path. In doing so, it addresses a number of important factors and issues associated with economic growth, and aims to answer to one of the hardest and most fundamental questions - how do we get poor developing countries on the path to sustained growth?
This innovative book accumulates the various, and often conflicting, growth theories, which enable a greater understanding of the growth processes in the developing world. It will be of interest to students of development studies, Asia studies and public policy, as well as research scholars and practitioners, including government officials and policymakers.
Ranald J. Taylor, School of Management and Governance, Murdoch University, Australia
Contents: Foreword Preface 1. Introduction 2. Technological Progress and Long-run Economic Growth 3. Endogenous Growth: The Evolution of Technological Progress 4. Initial Conditions and Economic Development: The Malaysian Case 5. The Role of the State in the Development of the Manufacturing Sector 6. Structural Change, Labour Utilization and Economic Growth 7. The Role of Manufacturing in Economic Growth: A Kaldorian Perspective 8. Human Capital Accumulation: Education Development in Malaysia 9. Effects of Human Capital and International Trade on Total Factor Productivity and Economic Growth 10. Summary of Findings and Discussions Appendices References Index