Authors
TN Srinivasan, TN Srinivasan, L Summers
Journal
Economic Review
Volume
6
Pages
529-47
Description
Few economists would attribute the differences in growth rates between Asia and Africa to the optimal workings of the invisible hand and most would favor policies that would raise African growth rates. Even in the gillasf-122: 1 SOuf1 Ii1f1€ i; tSortioki1arydpolicies_and even abstracting from skepticism ments and olic nrlrilalceeil equate mmrtemporal daemons’ moét gOv€ m-A necessafl;(buyt Cflftflllflappear to régard growth as a good thing er Se. _ _ _ y not sufficient) condition for growth 1S investinent, in machines, in people, or in both. In a closed economy, these llgtiilitmlents can come only from postponing consumption, that is from g. 11 an international economy, investment in one country can be § 1lpported by saving elsewhere in the world, but as a matter of fact, there: 82/Wéinvery 1high cgrrelation between national investment and national ga east W en both are defined to exclude education (for recent fllgsges …
Scholar articles
TN Srinivasan, TN Srinivasan, L Summers - Economic Review