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Government and Economic Growth

  • Lloyd G. Reynolds
Chapter

Abstract

This ambitious title suggests two questions, distinct but readily confused. First, what is the role of government in the decades surrounding the turning point from extensive to intensive growth? What part does government play in initiating intensive growth? Second, once a country has embarked on intensive growth, how does the policy stance of government influence its growth rate in subsequent decades? These are perhaps the most important questions that can be asked about the development process. They have called forth an enormous theoretical and empirical literature. In what follows we shall attempt a brief summary of this literature, at the risk of oversimplifying complex events.

Keywords

National Income Public Ownership Intensive Growth Policy Stance Capita Output 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Notes

  1. 3.
    W. W. Rostow, “The Take-off into Self-sustained Growth”, Economic Journal 66 (March 1956) 25–48.CrossRefGoogle Scholar
  2. 4.
    John Stuart Mill, Principles of Political Economy (London: Parker and Company, 1848).Google Scholar
  3. 7.
    W. Arthur Lewis, The Theory of Economic Growth (London: Allen & Unwin, 1952).Google Scholar
  4. 12.
    W. Arthur Lewis, The Principles of Economic Planning (London: Unwin University Books, 1949), pp. 121–22.Google Scholar
  5. 13.
    P. N. Rosenstein-Rodan, “International Aid for Underdeveloped Countries”, Review of Economics and Statistics (May 1961), pp. 107–38.Google Scholar

Copyright information

© Gerald M. Meier 1994

Authors and Affiliations

  • Lloyd G. Reynolds

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