Human Capital and Endogenous Growth in a Large-scale Life-cycle Model


Book Description

Life- cycle models of growth can yield a negative relation between population growth and income per capita growth, where the direction of causality goes from the exogenous rate of population growth to the endogenous rate of income growth. Tax policy can affect the proportion of human and physical capital in household portfolios. Tax policy that favors human capital over physical capital produces higher growth in per capita income.







Cross-country Studies of Growth and Policy


Book Description

The design, implementation, and interpretation of cross- country investigations should be improved. This review of conceptual, methodological, and statistical weaknesses in cross- country studies suggests that existing findings warrant only limited confidence.










Adjustment Programs and Bank Support


Book Description

Adjustment should begin with policy and institutional reforms to deal with the ultimate causes of any macroeconomic crisis a country is experiencing. Only when progress has been made in reducing inflation and fiscal and balance of payment deficits should other structural reforms begin - of the public sector, trade and competition, the financial sector, and the labor market.










Policy Determinants of Growth


Book Description

The efficiency of investment is as important as the level of investment in determining growth performance. Policies that make investment more efficient and reduce distortions in resource allocation generally encourage growth.