宏观经济PPT英文版(3).pptVIP

Macroeconomics 1st editionbyRobert J. BarroStanford’s Hoover Institution and NBER PowerPoint Slide Presentation Philip Heap, James Madison University Chapter 3Introduction ToEconomic Growth  Chapter Preview “Is there some action a government of India could take that would lead the Indian economy to grow like Indonesia’s or Egypt’s? If so, what, exactly? If not, what is it about the ‘nature of India’ that makes it so.” (Lucas). Over the next three chapters will try to answer these questions. What are the factors that lead to economic growth? Why do some countries grow fast and others slow? Why is economic growth important? Why care? Facts about growth. Facts About Economic Growth Facts About Economic Growth Facts About Economic Growth Facts About Economic Growth Three points to consider: The poorest countries in 2000 (sub-Saharan Africa) were poor mainly because they had grown at low or negative rates since 1960. Some countries in East Asia grew at high rates, which enabled the countries to move from low levels of real GDP per person much higher levels. OECD countries were rich in 2000 because they grew from 1960-2000 but also because they were already rich in 1960. World Poverty and Income Inequality: 1970 What happened to the poverty rate and income inequality from 1970-2000? World Poverty and Income Inequality: 2000 What happened to the poverty rate and income inequality from 1970-2000? World Poverty and Income Inequality What happened to the poverty rate and income inequality from 1970-2000? The poverty rate – fraction of the population living in poverty – fell. Poverty shifted from an Asian problem to mainly an African problem. Although income inequality rose within several large countries, world income inequality fell. Long Term Economic Growth in OECD Countries Questions To Answer What factors caused some countries to grow faster than others? East Asian countries vs. sub-Saharan African countries? How did “rich” countries sustain growth rates