The Assessment: New Approaches to Economic Growth

Boltho, Andrea; Holtham, Gerald

doi:10.1093/oxrep/8.4.1

Cited by 21 publications

(6 citation statements)

References 16 publications

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“…Since the 1980s debates have attended to questions concerning whether economic growth arises from factors internal a region, referred to as endogenous factors, or whether growth arises from the combination of both (Li, Denham et al 2022). For example, growth of the labour force and technological innovation were long considered as exogenous factors, as it typically applies broadly across regions or jurisdictions, and develop at a regular rate (Boltho and Holtham 1992).…”

Section: Patterns In Economic Growth Amongst Australia's Smaller Citiesmentioning

confidence: 99%

Growing Australia’s smaller cities to better manage population growth

Beer¹,

Crommelin²,

Vij³

et al. 2022

AHURI Final Report

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AHURIAHURI is a national independent research network with an expert not-for-profit research management company, AHURI Limited, at its centre. AHURI's mission is to deliver high quality research that influences policy development and practice change to improve the housing and urban environments of all Australians.Using high quality, independent evidence and through active, managed engagement, AHURI works to inform the policies and practices of governments and the housing and urban development industries, and stimulate debate in the broader Australian community. AHURI undertakes evidence-based policy development on a range of priority policy topics that are of interest to our audience groups, including housing and labour markets, urban growth and renewal, planning and infrastructure development, housing supply and affordability, homelessness, economic productivity, and social cohesion and wellbeing. AHURI Limited also gratefully acknowledges the contributions, both financial and in-kind, of its university research partners who have helped make the completion of this material possible. DisclaimerThe opinions in this report reflect the views of the authors and do not necessarily reflect those of AHURI Limited, its Board, its funding organisations or Inquiry Panel members. No responsibility is accepted by AHURI Limited, its Board or funders for the accuracy or omission of any statement, opinion, advice or information in this publication. AHURI journalAHURI Final Report journal series is a refereed series presenting the results of original research to a diverse readership of policy makers, researchers and practitioners. Peer review statementAn objective assessment of reports published in the AHURI journal series by carefully selected experts in the field ensures that material published is of the highest quality. The AHURI journal series employs a double-blind peer review of the full report, where anonymity is strictly observed between authors and referees.

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Section: Patterns In Economic Growth Amongst Australia's Smaller Citiesmentioning

confidence: 99%

Growing Australia’s smaller cities to better manage population growth

Beer¹,

Crommelin²,

Vij³

et al. 2022

AHURI Final Report

View full text Add to dashboard Cite

show abstract

“…Since the mid‐1980s, the study of long‐term growth has made a major re‐appearance on the research agenda in economics. An important stimulus for this revival has been the renewed interest in the empirics of growth, and especially the evidence that rates of long‐run convergence of per capita output and incomes between nations, and even between regions within nations, appear to be much slower and far more variable than predicted by the standard Solow‐Swan neoclassical growth model (Abramovitz, 1986; Boltho and Holtham, 1992). One consequence has been the emergence of a ‘new’ growth theory that incorporates increasing returns and technical change within the production function as determinants of the (endogenous) long‐term growth rate (Romer, 1986; Lucas, 1988; Grossman and Helpman, 1994; Barro and Sala‐i‐Martin, 1997).…”

mentioning

confidence: 99%

Identifying and Interpreting Regional Convergence Clusters Across Europe

Corrado

Martin

Weeks

2005

The Economic Journal

128

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In this paper we test for regional convergence clusters across the EU. We utilise a methodology that allows for the endogenous selection of regional clusters using a multivariate test for stationarity, where the number and composition of clusters are determined by the application of pairwise tests of regional differences in per capita output over time. To interpret the composition of the resulting convergence clusters, the latter are tested against a number of possible groupings suggested by recent theories and hypotheses of regional growth and convergence. Further, our method allows regional convergence clusters to vary over time.Since the mid-1980s, the study of long-term growth has made a major re-appearance on the research agenda in economics. An important stimulus for this revival has been the renewed interest in the empirics of growth, and especially the evidence that rates of long-run convergence of per capita output and incomes between nations, and even between regions within nations, appear to be much slower and far more variable than predicted by the standard Solow-Swan neoclassical growth model (Abramovitz, 1986;Boltho and Holtham, 1992). One consequence has been the emergence of a 'new' growth theory that incorporates increasing returns and technical change within the production function as determinants of the (endogenous) long-term growth rate (Romer, 1986;Lucas, 1988;Grossman and Helpman, 1994;Barro and Sala-i-Martin, 1997). Although several variants of this new endogenous growth theory have been developed, all permit a wider set of possibilities with regard to convergence behaviour. Some variants predict 'conditional' convergence of national (regional) per capita incomes to different long-run steady states that depend on initial national (regional) differences in institutional set-up, economic structure, tastes and so on. Others allow for so-called 'club' convergence among countries (regions) with similar structural and related conditions. Still others, including models that assume that technological advance is highly localised and its diffusion slow, predict persistent or even divergent differences in national (or regional) per capita output and incomes as long run outcomes (Bertola, 1993).At the same time, the emergence over the past decade or so of the so-called 'new economic geography' models of industrial location and agglomeration has highlighted how many sources of increasing returns are associated with Marshalliantype external localisation economies (such as access to specialised local labour inputs, local market access and size effects, local knowledge spillovers, and the like). These models provide a rich set of possible long-run regional growth patterns that depend, among other things, on the relative importance of transport costs and localisation economies (Fujita et al., 1999;Brackman et al., 2001;

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“…BEE can also be justified on efficiency grounds in terms of recent contributions to "new growth theory" (Romer, 1986;Lucas, 1988;Stern, 1991;Boltho and Holtham, 1992). Adherents to this school have all called attention to the contribution that human resource development can make towards stimulating and reinforcing sustained economic growth.…”

Section: Efficiencymentioning

confidence: 99%

On the Case for “Black Economic Empowerment” in South Africa**

Black¹

2002

South African J Economics

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The Assessment: New Approaches to Economic Growth

Cited by 21 publications

References 16 publications

Growing Australia’s smaller cities to better manage population growth

Growing Australia’s smaller cities to better manage population growth

Identifying and Interpreting Regional Convergence Clusters Across Europe

On the Case for “Black Economic Empowerment” in South Africa**

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