- ハードカバー: 990ページ
- 出版社: Princeton Univ Pr (2009/02)
- 言語: 英語
- ISBN-10: 0691132925
- ISBN-13: 978-0691132921
- 発売日： 2009/02
- 商品パッケージの寸法: 20.9 x 4.2 x 25.6 cm
- おすすめ度： 3件のカスタマーレビュー
- Amazon 売れ筋ランキング: 洋書 - 22,202位 (洋書の売れ筋ランキングを見る)
Introduction To Modern Economic Growth (英語) ハードカバー – 2009/2
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"Introduction to Modern Economic Growth" is a groundbreaking text from one of today's leading economists. Daron Acemoglu gives graduate students not only the tools to analyze growth and related macroeconomic problems, but also the broad perspective needed to apply those tools to the big-picture questions of growth and divergence. And he introduces the economic and mathematical foundations of modern growth theory and macroeconomics in a rigorous but easy to follow manner.
After covering the necessary background on dynamic general equilibrium and dynamic optimization, the book presents the basic workhorse models of growth and takes students to the frontier areas of growth theory, including models of human capital, endogenous technological change, technology transfer, international trade, economic development, and political economy. The book integrates these theories with data and shows how theoretical approaches can lead to better perspectives on the fundamental causes of economic growth and the wealth of nations.
Innovative and authoritative, this book is likely to shape how economic growth is taught and learned for years to come. Introduces all the foundations for understanding economic growth and dynamic macroeconomic analysis Focuses on the big-picture questions of economic growth Provides mathematical foundations Presents dynamic general equilibrium Covers models such as basic Solow, neoclassical growth, and overlapping generations, as well as models of endogenous technology and international linkages Addresses frontier research areas such as international linkages, international trade, political economy, and economic development and structural change An accompanying Student Solutions Manual containing the answers to selected exercises is available (978-0-691-14163-3/$24.95). See: http: //press.princeton.edu/titles/8970.html. For Professors only: To access a complete solutions manual online, email us at: firstname.lastname@example.org
It's hard not to be impressed by Acemoglu's mastery of the subject and for a handful of top graduate programs this is clearly the book for the next generation.--Tyler Cowen "Marginal Revolution "
It's hard not to be impressed by Acemoglu's mastery of the subject and for a handful of top graduate programs this is clearly the book for the next generation.
--Tyler Cowen "Marginal Revolution "
"It's hard not to be impressed by Acemoglu's mastery of the subject and for a handful of top graduate programs this is clearly the book for the next generation."--Tyler Cowen, "Marginal Revolution"
"Beyond coursework, this is a book that should be compulsory reading for any PhD student in macroeconomics, even for those whose thesis does not specifically focus on growth. [S]elected materials from this book, and Part I in particular, could also be included in the reading list of an undergraduate course in advanced macroeconomics. . . . This book will be an inseparable and precious companion . . . for many years to come."--Fabrizio Carmignani, "Economic Record"
ただし、数学はとても高度。凸解析などに不安を抱える人は痛い目を見ます。数学的にはRobert Barro and Sala-i-Martinの"Economic growth"の方が易しく、直感的な説明も多いです。
またダイナミックプログラミングが取っ付きにくい場合は、Adda and Cooperの"Dynamic Economics: Quantitative Methods and Applications"が分かりやすいです。
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Now let's move to the book (which is what these reviews are supposed to be about):
I've had the opportunity to go through the book carefully and I think it is hard to find an economics textbook that is as comprehensive and self-contained as this one.
The first part convincingly motivates what the most important open questions in the study of economic growth are. It even touches on topics such as institutions, and geography which many growth textbooks often ignore.
The chapters in parts I-III are very useful for teaching an intermediate course in Economic Growth, with very detailed and rigorous explanations of the formal arguments. I loved the fact that he takes the time to go through some of the details of the proofs which is very helpful both for students and teachers.
Parts IV-VIII contain more advanced material on very relevant topics such as technology, trade, and political economy. I especially liked part VIII on the Political Economy of Growth which only a textbook written by Acemoglu, who has made some of the most recent substantial contributions to this field, could include.
Last but not least, I am sure students will be very thankful for the very detailed Mathematical Appendices that level the field (to some extent) for students with different mathematical backgrounds.
In sum, I totally recommend this textbook to both intermediate and graduate students interested in the study of economic growth. Only an economist who has made contributions to some of the topics covered in the book could write such a great textbook.
It could be beside my other growth theory textbooks, which will have to accept their place as just timid predecessors of this amazingly comprehensive and yet equally pedagogical volume. Or, given its excellent treatment of Dynamic Optimization Methods, I could place it by the couple of best graduate-level Macroeconomic and Macroeconomic Methods textbooks around. Even placing it along my Microeconomics textbooks did not seem far-fetched; Acemoglu truly conveys much of the intricacies of General Equilibrium Theory with a clarity I have not found elsewhere. And then, of course, the Mathematical Appendix has been such a useful constant reference since I have the book, that I could well put it together with my Mathematical Economics books.
As a young economist, I have no doubt that this book will be a great companion in the years to come and I recommend it to anyone who is passionate about economics.
Another nice feature of the book is the discussion of the fundamental theorems in a variety of settings. It is really convenient to have these, along with detailed proofs, in the same book that covers specific growth models.
Having said that, the most important thing is that there is a very solid treatment of economic growth, both from an empirical and theoretical perspective. Most of the recent developments are given at least some discussion and excellent motivation. To have all of these covered in one book is really amazing, and the author ties it all together very nicely.
I find the exercises to be crucial for understanding new material, with some being easy and others quite difficult. I think this book is a must have for graduate students who want to get there feet wet in growth theory.
-- Acemoglu, "Introduction to Modern Economic Growth" (2009)
-- Aghion and Howitt, "The Economics of Growth" (2009)
-- Weil, "Economic Growth" (2nd ed., 2009)
As a Ph.D. economist who has resided and worked for the past thirty years in low-income areas of several continents, in countries of which the wealthiest was Egypt, "Economic Growth" is a daily interest. How does the enterprise sector relate to what attracts our attention to low-income countries in the first place: hunger, physical insecurity, abusive social relations? Does it pass these problems by, or does it alleviate them? Should interested outsiders care about "the economy" and if so what should they do? Or should they concentrate on relief, or on political reform?
This review of the three texts listed above looks at them from the point of view of their usefulness in relation to this particular interest.
Although Weil's undergraduate text stays away from the mathematics that dominate the other two, all three books are quite similar in that each is an encyclopedic exposition of models of aggregate growth, along with numerous factors that have been suggested to affect it. None is a monograph that states and defends a thesis. They all prepare a student to grapple with problems in the hope that the students will solve them.
Perhaps that is the fate of a textbook: anything more assertive would be commercially limiting.
Nonetheless, the result is a certain defensiveness. The task of the two graduate texts in particular seems to be to demonstrate that, if observation of low-income countries or of growth should give rise to an idea, then the economics profession can model it.
This is not to say that the authors haven't had ideas. But none of these texts is a handbook of things to be done: how to create economic growth or improve its quality. The implication, unfortunately, is that the authors don't have that toolkit to offer. (The graduate texts are, however, handbooks on how to model.)
The reader will learn quite a bit about the world from Weil's book, which is more descriptive than the other two. Aghion and Howitt's is immensely learned, but Acemoglu's book stands out in a couple ways. First, it is the only one to cross the line and become an applied mathematics textbook pure and simple. Secondly, however, its great length affords space for an "Epilogue," an explicit outlier that contains some non-mathematical statements. And it's here where I can pin-point what seems to me to be the underlying methodological limitation.
Acemoglu says about Chinese history, on page 867 (!): "When prospects for economic growth conflicted with political stability, the elite opted for maintaining stability, even if this came at the expense of potential economic growth. Thus China tightly controlled ... ."
Let me state the principle that is illustrated here but that Acemoglu has perhaps overlooked: Things don't happen for causes. Things happen because people do them.
If things happened for causes, then we might indeed model cause and effect -- and probably conclude that that's all we could do.
But all the models and history are after the fact. If the fact were different, we'd be modeling that instead. And it always might have been different. China's history, in point of fact, finally did read: "Even though the measures required for economic growth conflicted with political stability, the elite found a way to take the measures and preserve political structures, resulting in massive benefits that ultimately were both economic and political." China's elite might very well have done this at any time; it's not for us to say that they couldn't have.
Acemoglu also overlooked this principle of action in the section on pp. 868-70 about Western Europe's growth after 1800. He says that two things were different in the pre-1800 period: no systematic investment in human capital, and the presence of "authoritarian" political regimes. But he then ignores investment in human capital in his story of the post-1800 period.
This is a fatal error. People make the political institutions what they are, make the families what they are, and make the firms what they are. "Things happen because people do them."
People who bring about change do not drop from outer space; they "distill their frenzy" from somewhere, and it's usually from an intellectual outlook they encountered in schools and universities.
If we hope low-income countries' enterprises will become more world class, their owners and managers must have this as their vision. If we hope that international standards of human rights will prevail, then social leaders must have that as their vision. And if we hope that Total Factor Productivity will rise in low-income countries, it is people who will make that happen.
It is actually a bit odd that all three texts should tell the basic story whose thread runs through savings, capital accumulation, TFP, and innovation without tackling what Acemoglu calls (p. 873) "the industrial organization of innovation." I give Acemoglu credit for this excellent term.
Surely the industrial organization of innovation would include universities investing in human capital, but perhaps this kind of investment will have to have happened more widely in low-income countries before it's modeled.
I conclude by reiterating that each of these three texts is encyclopedic and extremely impressive.
and cover the essential of modern macroeconomics.
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