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Lecture 6. Does Economic Growth Matter?

Romain Wacziarg

Internet Research Materials:

 

Questions for Seminar Discussions:

  • What is development?
  • Discuss the different measurements of development. What are the differences between the World Bank ranking, the Human Development Index, and the one suggested by Prof. Amartya Sen? Which one would you accept as the most appropriate index of development? Why?
  • Were you surprised by the finding that democracy has neither a positive nor a negative effect on growth? Why?

 

Key terms:

Economic Development

Infant Mortality Rate

Human Development Index

Fundamental Rights

Determinants of Development

Geography

Policy

Proximate Causes of Growth

Accumulation

Trade Openness and Growth

Per Capita Income

Human Welfare Indicators

Political Development

Human Capabilities

Institutions

Demography

Structural Determinants

Technological Innovation

Depreciation

Trade Liberalization

 

 

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