the differences between DEVELOPMENT & GROWTH

Development:• newly-born backward countries after World War II• development is a four-leg chair where institutional, social,

civil and economic aspects are stabilised• interdisciplinary studiesGrowth: • dominance of the economy over the behavior of institutions

and individualsMain aspects:• explaining why growth is concentrated in a few countries,

while many others are still waiting along the road• explaining how some developing countries are redeemed

and crowding the group of the emerging countries• Explaining the dynamics that move the transition countries

Course-outline

Elements of development as part of classic economic litterature

Notes on the newly-born specialized litterature on the basis of the success-experience on developing, distinct from the traditional litterature that has been denominated “growth theory” , by reviewing the most famous authors (Rostow, Myrdal, Lewis, Streeten, Sen, ..)

Growth acceleration as the engine of national wealth and of the well-being of populations: Theories and models, both neoclassic and keynesian

Endogenous growth theories, based on human capital valorization

Course-outline in details• From theories to models• Classical theories of development• The Keynesian growth model of Harrod-

Domar• Neoclassical models of growth: Solow

approach• Analysis of growth based on the production

function• The new endogenous growth theory (NTC)

and macrodeterminants of growth

Changes in the world Gnp

Income inequalities through the worldThe Gini coefficient is a number between 0 and 1, where 0 corresponds with perfect equality (where everyone has the

same income) and 1 corresponds with perfect inequality (where one person has all the income—and everyone else has zero income). Income distribution can vary greatly from wealth distribution in a country.