Further readings, and data on growth

An excellent companion of this book, illustrating the di¢ culties and chal-
lenges of growth and development, is William Easterly, The Elusive quest for
growth: an economist’s adventures in the tropics, MIT Press, 2001. The
reader may also want to pursue the subject of growth in two broad di-
rections: empirics and theory. He will …nd tremendous help in a website
opened and maintained by Jonathan Temple of Bristol University. The site
is www.bris.ac.uk/Depts/Economics/Growth.
Available at this address is also a list of the sites which carry the most
detailed and accurate data on economic growth, for a very large number of
countries. Those are:
Penn World Table (Summers-Heston data set)
Barro-Lee (1993) growth data set
Barro-Lee (2000) education data set
Political instability and growth data set
Sachs and Warner data sets
Social Indicators of Development
Trends in Developing Economies
World Bank Growth Research
World Bank World Tables
Most economic journals publish research on growth and development;
some are even specialized in each of these …elds: The Journal of Economic
Growth, the Journal of Economic Development. A wealth of recent books
and papers is also available on line through Jonathan Temple’s website.
The reader who would like to refresh his calculus, especially on subjects
directly relevant to economic dynamics, has many excellent texts at his dis-
posal: we indicate four of those, which he may …nd particularly helpful:

Chiang, A., Fundamental methods of mathematical economics, 3rd ed., McGraw-

Hill, New York, 1985.

Gandolfo, G., Economic Dynamics, 3rd ed., Springer, Berlin, New York,
1997.

1
 Hammond, P.J. and Sydsaeter, Mathematics for economic analysis, Prentice
Hall, Englewood Cli¤s, N.J. , 1995.

Takayama, A., Mathematical Economics, Cambridge University Press, Cam-

bridge, New York, 1994.

If he wants to enter the subject of the calculus of variations and optimal

control, the following references are particularly recommended:
for the calculus of variations per se:

Elsgolc, L., Calculus of Variations, International Series of Monographs

in Pure and Applied Mathematics, Pergamon Press, Reading, Mass.,
1962.

Gelfand, I. and S. Fomin, Calculus of Variations, Englewood Cli¤s, N.J.,

Prentice Hall, 1963.

for optimal control and its applications to growth, a good introduction is:

Chiang, A., Elements of dynamic optimization, McGraw-Hill, New York,

1992.

In-depth and very clear presentations are in:

Arrow, K.J., “Applications of control theory to economic growth”, in G.B.

Dantzig and A.F. Veinott, eds., Mathematics of the decision sciences,
American Mathematical Society, Providence, R.I., 1968.

Arrow, K.J. and M. Kurz, Public investment, the Rate of return, and Opti-
mal …scal policy, Johns Hopkins Press, Baltimore, 1971.

The best known textbooks and collected papers in growth theory, often
from very di¤erent perspectives, and at di¤erent levels are:

Acemoglu, D. (ed.), Recent developments in growth theory. Edward Elgar,

2004.

Aghion, P. and P. Howitt, Endogenous growth theory, MIT Press, Cam-

bridge, MA., 1998.

2
Aghion, P. and S.N. Durlauf, Handbook of economic growth. North-Holland,
Amsterdam, 2005.

Aghion, P. and R. Gri¢ th, Competition and growth, reconciling theory and
evidence, MIT Press, Cambridge, MA., 2005.

Barro, Robert J. and Xavier Sala-i-Martin, Economic Growth (2nd edition).

Boston: MIT Press, 2004.

Bertola, Giuseppe, Foellmi, Reto and Zweimuller, Josef, Income distribution

in macroeconomic models. Princeton University Press, Princeton, 2006.

Eicher, T. and C. Garcia-Peñalosa, (eds.), Institutions, development and

economic growth, MIT Press, Cambridge, MA., 2006.

Eicher, T. and S. Turnovsky, (eds.), Inequality and growth, theory and policy
implications, MIT Press, Cambridge, MA., 2007.

George, Donald A.R., Oxley, Les and Carlaw, Kenneth I., Surveys in eco-
nomic growth: theory and empirics. Oxford: Blackwell, 2004.

Gylfason, Thorvaldur, Principles of economic growth. Oxford University

Press, Oxford, 1999.

Helpman, Elhanan, The mystery of economic growth. Cambridge, Harvard

University Press, 2004.

Jensen, B.S., The dynamic systems of basic economic growth models, Dor-
drecht: Kluwer Academic Publishers, 1994.

Jones, Charles I., An introduction to economic growth. Norton, 1997.

Klundert, Theo van de, Growth theory in historical perspective: selected

essays of Theo van de Klundert. Edward Elgar, Cheltenham, UK.
Edited by Sjak Smulders, 2001.

Lucas, Robert E., Jr., In search of prosperity: analytic narratives on eco-

nomic growth. Princeton: Princeton University Press, 2002.

Malinvaud, E., Macroeconomic theory: a textbook on macroeconomic knowl-

edge and analysis, translated into English by Fenella Kirman, Elsevier,
Amsterdam, 1998.

3
 Parker, Philip M., Physioeconomics: the basis for long-run economic growth.
MIT Press, Cambridge, MA., 2000.

Rodrigo, G. Chris, Technology, economic growth and crises in East Asia.

Edward Elgar, Cheltenham, UK., 2001.

Rodrik, Dani (ed.), In search of prosperity: analytic narratives on economic

growth. Princeton: Princeton University Press, 2003.

Rogers, Mark, Knowledge, technological catch-up and economic growth. Ed-

ward Elgar, 2003.

Romer, David, Advanced macroeconomics, 2nd edition. McGraw-Hill, Boston,

Mass., 2001.

Ros, Jaime, Development theory and the economics of growth. University of

Michigan Press, 2000.

Solow, Robert M., Growth theory: an exposition (2nd edition). Oxford

University Press, Oxford, 2000.

Thirlwall, Tony, The nature of economic growth: an alternative framework

for understanding the performance of nations. Edward Elgar, forth-
coming. Mexico lectures, 2002.

Weil, David N., Economic growth. Pearson, Addison Wesley, 2005.

An excellent synthesis of the research presently conducted on the all-

important environmental issues is in:

Brock, William A. and M. Scott Taylor, “Economic growth and the envi-
ronment: a review of theory and empirics”, in Aghion, P. and Durlauf,
S., op.cit., 2005.

Other references, quoted in this book

Antras, P., “Is the U.S. aggregate production function Cobb-Douglas? New
estimates of the elasticity of substitution”, Harvard University and
NBER Working Paper, September 2003.

4
Arrow, K., H. Chenery, B. Minhas and R.M. Solow, “Capital-labour substi-
tution and economic e¢ ciency”, Review of Economics and Statistics,
43, No 4, pp. 225-250.

Arrow, K.J. and F., Hahn, General competitive analysis, Holden-Day, San
Francisco, Oliver and Toyd, Edinburgh, 1971.

Dorfman, R., “An economic interpretation of optimal control theory”, Amer-

ican Economic Review, Vol. 59, No 5, December, 1969, pp. 817-831.

Elsgolc, E., Calculus of Variations, Pergamon Press, London, 1964.

Feynman, R., The pleasure of …nding things out, Penguin Books, London,
New York, 1999.

Fischer, I., Appreciation and Interest, Vol. XI, No 4, New York, American
Economic Association, 1896, pp. 331-442.

Goodwin, Richard M., “The optimal growth path for an underdeveloped

economy”, The Economic Journal, 1961, 71 (284), pp. 756-774.

Hairer, E., and G. Wanner, L’analyse au …l de l’histoire, Springer Verlag,

Berlin, Heidelberg, New York, 2000.

Hairer, E., S.P. N rsett and G. Wanner, Solving Ordinary Di¤erential Equa-
tions, Volume I, Second Edition, Springer Verlag, New York, 2000.

Hardy, G., J.E. Littlewood and G. Polya, Inequalities, Cambridge University

Press, Cambridge, 1952.

Hardy G., J.E. Littlewood and G. Polya, Inequalities, Second Edition, Cam-
bridge Mathematical Library, Cambridge, 1952.

Hicks, J., Theory of Wages, Macmillan, London, 1932.

Ibn-Khaldun, The Muqaddimah - An Introduction to History (1377), trans-

lated from the Arabic by Franz Rosenthal, Routledge and Kegan Paul,
London and Henley; First printing, 1958; this edition, 1986.

Jones, R., “The structure of simple general equilibrium models”, The Jour-
nal of Political Economy, 73, No 6, pp. 557-572, 1965.

5
Johnston, L. and S. Williamson, “The annual real and nominal GDP for
the United States, 1790-Present”, Economic History Services, October
2005, URL:http://www.eh.net/hmit/gdp/.

Klump, R. and H. Preissler, “CES production functions and economic growth”,

Scandinavian Journal of Economics, 102, pp 41-56, 2000.

Klump, R. and O. de La Grandville, “Economic growth and the elasticity

of substitution: two theorems and some suggestions”, American Eco-
nomic Review, 90, No 1, pp. 282-291, 2000.

Klump, R. P. McAdam and A. Willman, “A supply-side diagnosis of growth

in the euro area: factor substitution, productivity and unemployment”,
Paper presented at the C.E.S. Conference, University of Frankfurt, Oc-
tober 20-22, 2006.

La Grandville, O. de, “Capital theory, optimal growth and e¢ ciency con-

ditions with exhaustible resources”, Econometrica, Vol. 48, No 7, No-
vember 1980, pp. 1763-1776.

— , “In Quest of the Slutsky Diamond”, American Economic Review, 79,

No 3. pp. 468-481, 1989.

— , “New hamiltonians for high-order equations of the calculus of variations:

a generalization of the Dorfman approach”, Archives des Sciences, Vol.
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— , “Curvature and the elasticity of substitution: straightening it out”,

Journal of Economics, Vol. 66, No 1, 1997, pp. 23-34.

— , Bond pricing and portfolio analysis – protecting investors in the long

run, MIT Press, Cambridge, MA., 2002.

— , “Protecting investors against changes in interest rates”, in Asset and

Liability Management, W. Ziemba and S. Zenios, eds., Elsevier North
Holland, Amsterdam, New York, 2006, pp. 69-138.

— and Robert M. Solow, “A conjecture on general means”, Journal of

Inequalities in Pure and Applied Mathematics, Vol. 7, no. 1, 2006.

Laubier, Patrick de, Pour une civilisation de l’amour, Fayard, Paris, 1990.

6
Leung, H.M., “Endogenizing the aggregate elasticity of substitution”, Paper
presented at the C.E.S. Conference, University of Frankfurt, October
20-22, 2006.

Malinvaud, E., “Sur l’aggrégation des demandes de travail non-quali…é”,

Annales d’Economie et de Statistique, 66, pp. 41-80, 2002.

Malinvaud, E., “An aggregation problem”, Working Paper, 2003.

Pitman, J., Probability, Springer Verlag, New York, 1993.

Ramsey, F., “A mathematical theory of saving”, The Economic Journal,

Vol. 38, No 152, December, 1928, pp. 543-559.

Rutherford, T., Lecture notes on constant elasticity functions, University of

Colorado, November 2003.

Smith, A., An inquiry into the nature and causes of the wealth of nations
(1776); this edition: Dent: London, 1975, pp. 398-400.

Solow, R., “A contribution to the theory of economic growth”, The Quar-

terly Journal of Economics, Vol. 70, No 1, February, 1956, pp. 65-94.

Srinivasan, T.N., “Optimal savings in a two-sector model of growth”, Econo-

metrica, Vol. 32, No 3, July, 1964, pp. 358-373.

Stoléru, L., L’équilibre et la croissance économique, Principes de macroé-

conomie, Paris, Dunod, 1970.

Uzawa, H., “Optimal Growth in a Two-Sector Model of Capital Accumula-

tion”, Review of Economic Studies, XXXII, 90, April, 1965, pp. 85-104.

Watson, Burton (transl.), Basic writings of Mo Tzu, Hsün Tzu and Han
Fei Tzu, Columbia University Press, New York, 1963.

Young,L., “The Tao of markets: Sima Quian and the invisible hand”, Paci…c
Economic Review, Vol. 1, No 2, September 1996.

Yuhn, K.H., “Economic Growth, Technical Change Biases, and the Elastic-
ity of Substitution: a Test of the de La Grandville Hypothesis”, The
Review of Economics and Statistics, LXIII, No 2, 1991, pp. 340-346.