by Robert J. Barro, Xavier Sala-i-Martin
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Product Description
This graduate level text on economic growth surveys neoclassical and more recent growth theories, stressing their empirical implications and the relation of theory to data and evidence. The authors have undertaken a major revision for the long-awaited second edition of this widely used text, the first modern textbook devoted to growth theory. The book has been expanded in many areas and incorporates the latest research.
After an introductory discussion of economic growth, the book examines neoclassical growth theories, from Solow-Swan in the 1950s and Cass-Koopmans in the 1960s to more recent refinements; this is followed by a discussion of extensions to the model, with expanded treatment in this edition of heterogenity of households. The book then turns to endogenous growth theory, discussing, among other topics, models of endogenous technological progress (with an expanded discussion in this edition of the role of outside competition in the growth process), technological diffusion, and an endogenous determination of labor supply and population. The authors then explain the essentials of growth accounting and apply this framework to endogenous growth models. The final chapters cover empirical analysis of regions and empirical evidence on economic growth for a broad panel of countries from 1960 to 2000. The updated treatment of cross-country growth regressions for this edition uses the new Summers-Heston data set on world income distribution compiled through 2000.
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Average Customer Review:
1 of 1 people found the following review helpful:
 Excellent book for economic growth!, 2007-07-27
Economic Growth, by Sala-i-Martin anb Barro, has already become a classic. I can't think of anything better on the subject. Excellent book and carefully written!
0 of 3 people found the following review helpful:
 Good price, good shipment, 2007-07-04
The price was good but the book's cover had loose colour and the corners were bended.
9 of 11 people found the following review helpful:
 a must read for econ. Ph.D, 2005-02-25
This is a must read for graduate macro. class and economic growth. The ordinary differential equations discussion at the appendix is concise and intuitive. Derivation of equations is very clearly presented in this book. But you must read the appendix before you read the first chapter. Like how to derive the growth convergence rate in ch.2 and the numerical procedures in the book. This book exhibits a perfect blend of theory, econometric work and even numerical method. Of course, for log linearization, you definitely want to look for elsewhere. The last few chapters are good for choosing dissertation topics.
I tried to read Aghion and Howitt's 1992 seminal paper of endogenous growth, but found it inscrutible. After reading this book, I find it much easier.
The only reason that it does not deserve 5 stars is huge number of typos, especially the numbering of equations. For example, pp.109, the description of fig 2.3 does not match the figure.
5 of 27 people found the following review helpful:
Macro Musings, 2004-01-08
By David Guy Atkin
As somewhat of a social insomniac, I have an exorbitant amount of time laying in bed doddling. While playing games with myself is somewhat amusing, I have found the most amazing solution. THIS BOOK! A stimulating read...perfect for rest, relaxation, and casually flipping thru during spare time...especially, the rigorous development of the dynamics of the Uzawa-Lucas model...the illustrations are captivating and encapsulate all I love about Economics and New Jersey.
13 of 15 people found the following review helpful:
Economic Growth is just Super!, 2004-01-04
Prior to having used this book, Macroeconomics was the bain of my life. A short sweater wearing Frenchman assigned it as the set text of his course and everything changed. The models are clear, lucid and stimulating. The exposition is first rate and the mix of theory with empirics is frankly breathtaking.I used to turn up 20 minutes late to macro lectures out of fear, now I wake up early asking myself "How can I make Peru grow faster". Is Economic Growth dull? Now, not so much as not at all...
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