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This book studies the economic growth and development of four Visegrad economies (Czech Republic, Hungary, Poland and Slovakia) between 1995-2014. The author uses a neoclassical growth model with distortions (wedges) to identify the main sources of economic growth for each of these countries including employment, human capital, capital accumulation and TFP growth. The first part of the book is structured around the concept of production function, factor inputs and growth accounting, and the second part of the book looks at selected problems related to economic developments of the analysed countries. This book combines empirical facts, data analysis and macroeconomic modelling and will appeal to those interested in convergence and growth in general, and analysts and researchers studying the Visegrad countries in particular.
List of contents
1. Introduction.- 2.Methodology and stylised facts.- 3. Labour input and labour income.- 4. Capital stock and capacity utilisation.- 5. Growth and development accounting.- 6. The neoclassical growth model.- 7. Markets and distortions.- 8. Growth and the financial environment.- 9. Credit crisis and growth.
About the author
István Kónya is Visiting Professor at the Economics Department of the Central European University in Budapest, Hungary, and Research Advisor at the Institute of Economics of the Hungarian Academy of Sciences. Previously, he worked as an assistant professor at Boston College, USA (2001-2004).
His research interests are in economic growth, labor economics and international economics.
István received his Ph.D. from Northwestern University in 2001. He also holds an M.A. in Economics from the Budapest University of Economics Sciences (1996). He currently teaches Macroeconomic Theory (MA) and Growth and Development (PhD).
Summary
Deals with a topic not consistently covered before: the growth process after economic transition from centrally planned to market economies
Introduces new ideas in explaining growth shocks
Presents a clear and structured model that can be applied to different countries, making comparisons easier
