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Title Details

RRP / List Price: $65.00

Title   Barriers to Riches 

ubiq Price: $58.50

Author   PARENTE & PRESCOTT  ISBN   9780262661300  Add to shopping cart   
Publisher   MIT Press  Group   Commerce/Law View shopping cart
Binding   Paperback Category   Economics  Terms and conditions
Edition   1 Type   Go back
Publication Year   2002 
Subject   Development studies 
Stock Status   Not currently in stock - contact store for availability 
Order Status   Not currently on order 
Synopsis Why isn't the whole world as rich as the United States? Conventional views hold that differences in the share of output invested by countries account for this disparity. Not so, say Stephen Parente and Edward Prescott. In Barriers to Riches, Parente and Prescott argue that differences in Total Factor Productivity (TFP) explain this phenomenon. These differences exist because some countries erect barriers to the efficient use of readily available technology. The purpose of these barriers is to protect industry insiders with vested interests in current production processes from outside competition. Were this protection stopped, rapid TFP growth would follow in the poor countries, and the whole world would soon be rich. Barriers to Riches reflects a decade of research by the authors on this question. Like other books on the subject, it makes use of historical examples and industry studies to illuminate potential explanations for income differences. Unlike these other books, however, it uses aggregate data and general equilibrium models to evaluate the plausibility of alternative explanations. The result of this approach is the most complete and coherent treatment of the subject to date.

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