九章长期济增长章节目标学生在本章中学习krugman2e irm ch25.pdfVIP

chapter9(25)

Long-RunEconomicGrowth

ChapterObjectives

Studentswilllearninthischapter:

•Whylong-rungrowthismeasuredastheincreaseinrealGDPpercapita,howthis

measurehaschangedovertime,andhowitvariesacrosscountries.

•Whyproductivityisthekeytolong-rungrowthandhowproductivityisdrivenby

physicalcapital,humancapital,andtechnologicalprogress.

•Thefactorsthatexplainwhygrowthratesdiffersomuchamongcountries.

•Howgrowthhasvariedamongseveralimportantregionsoftheworldandwhythe

convergencehypothesisappliestoeconomicallyadvancedcountries,butonlycon-

ditionallytomanypoorercountries.

•Thequestionofsustainabilityandthechallengestogrowthposedbyscarcityof

naturalresourcesandenvironmentaldegradation.

ChapterOutline

OpeningExample:Thelinkbetweenlong-runeconomicgrowthandaverageheightis

presentedusingtheexamplesofJapaninthe1900’sandtoday.

I.ComparingEconomiesAcrossTimeandSpace

A.EconomistsmeasureeconomicgrowthusingrealGDPpercapita.

B.TheannualgrowthrateinrealGDPfor,say,year2iscalculatedasfollows:

RealGDPinyear2–RealGDPinyear1

AnnualgrowthinrealGDP=

RealGDPinyear1

C.IntheUnitedStates,realGDPpercapitaincreasedseven-foldduringthetwen-

tiethcentury,resultinginalargeincreaseinthestandardofliving.However,

realGDPgrowthratescanvarywidelyacrosscountries.

D.Inmanycountries,realGDPpercapitaisfarlowerthanitisintheUnited

States.

E.Morethanhalftheworld’spopulationhaslivingstandardsthatareworsethan

thoseexistingintheUnitedStatesin1900.

F.Definition:TheRuleof