Physical Sciences and Mathematics Commons^™

Human Capital And Economic Growth: Theory And Policy., Bidisha Chakraborty Dr.

Doctoral Theses

Growth theory is one of the most important branches of macroeconomics. Growth theory helps us to understand the intertemporal behaviour of a dynamic economy and to understand the properties of the long-run rate of economic growth. It identifies the factors causing the deviation of the actual rate of growth from the socially efficient rate of growth and analyses the effectiveness of various policies in removing this gap. It analyses the condition of stability of the long-run equilibrium and also attempts to establish links between the long run equilibrium and the persistence of underdevelopment.With the emergence of the ‘new’ growth theory, …