Maddison's Analysis of Growth and Development
Victoria University of Wellington - School of Economics & Finance
ENCYCLOPEDIA OF POLITICAL ECONOMY, Philip O'Hara, ed., Routledge, pp. 681-684, 2000
Angus Maddison's analysis of economic growth and development are rooted in a rich array of compatible time series and cross-section data as well as incorporating unquantifiable variables. He has endeavoured to isolate the variable which have fostered or hindered the process of economic development. Maddison has found that economic agents have realised they can influence the course of economic development. He also argues that capital stock is very important to the growth process, as they lead to an increase in technology. The leaders in technology are often the leaders in technology. Maddison leaves us with a rich analysis of economic growth which can give us greater understanding and enable us to influence the own economic future of our nation.
Keywords: Maddison, Growth, Economic development, Time series, Cross-section
JEL Classification: O40Accepted Paper Series
Date posted: January 25, 2010
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