Chapter

Instability and Growth

Deepak Lal and H. Myint

in The Political Economy of Poverty, Equity and Growth: A Comparative Study

Published in print October 1998 | ISBN: 9780198294320
Published online November 2003 | e-ISBN: 9780191596582 | DOI: http://dx.doi.org/10.1093/0198294328.003.0006
 Instability and Growth

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Questions of macroeconomic stability and growth are examined, and a number of developing countries from the study addressed in the book are identified, in which growth collapsed during the more turbulent post‐1973 international economic environment. The economic causes of the growth collapses that have occurred in some of the countries are examined, and found to be due to an over‐expansion in public expenditures, linked by and large either to ’big push’‐type investment expenditures, or to unsustainable social expenditures.

Keywords: developing countries; economic growth; investment; investment expenditure; macroeconomics; public expenditure; social expenditure; stability

Chapter.  16328 words.  Illustrated.

Subjects: Economic Development and Growth

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