宏觀經(jīng)濟學(xué)雙語課件

1、9 Theories of Economic Growth Economic Growth and Decisive Factors Harrod-Domar Economic Growth ModelNew Classical Growth ModelNew Cambridge Economic Growth Model Technical Progress and Economic Growth Debate about Economic Growth中文版中文版CONTENT12:582Economic Growth and Decisive Factors Definition of

2、growthThe basic type of growth The decisive factor of growth12:583Economic Growth and Decisive FactorsDefinition of economic growth Economic Growth represents the expansion of productive capacity or real national output.12:584Economic Growth and Decisive FactorsDefinition of economic growth the expa

3、nsion of productive capacity or real output mainly determines the quantity and quality of human resources,nature resources ,accumulation capital and technical level in a country. Economic growth means improving and increasing of these factors.12:585Economic Growth and Decisive FactorsThe difference

4、between Economic Development and economic growth Economic development is not only including economic growth,but also the changes of society system and economic structure 12:586Economic Growth and Decisive FactorsThe basic type of economic growthThe basic type of economic growth It is made by promoti

5、ng efficiency of productive factors.It can achieve under the amount of productive factors not increasing.It is including the increasing of all and single productive efficiency. 12:587Economic Growth and Decisive FactorsThe basic type of economic growthExtensive economic growth It is made by the incr

6、ement of productive factors.The more productive factors means the more productive capacity,but it doesntt mean factors is full use. The output per factor obtains is constant when aggregate output increases.12:588Economic Growth and Decisive FactorsIntensive economic growth It is induced by productiv

7、e capacity,and which is induced by promoting efficiency of factors.it can bring about under the amount of Factors is constant.it is not only including the increasing of overall ,but also single productive efficiency .12:589Economic Growth and Decisive FactorsThe decisive factor of growthQuantity of

8、productive factors Human resources Technical progress System factors12:5810Harrod-Domar Growth ModelHypothesis premiseOnly one kind of merchandise produces in all society.There are just two productive factors.12:5811Harrod-Domar Growth ModelHypothesis premiseReturn of scale is constant Technology is

9、 constant12:5812Harrod-Domar Growth ModelHypothesis premiseBecause scale return is constant, technology too.The proportion of labor and capital is constant,whenever the quantity of labor and capital that per output produced need are constant.Marginal propensity to save is constant.It equals average

10、propensity to save,or proportion of saving in national income.Average propensity to save or proportion of saving in national income is constant . 12:5813Harrod-Domar Growth ModelHarrod Model Three growth rates of Harrod Real growth rate GCs G：Real or ex-post output growth rate in this term and last

11、term,namely GY/YS：Real saving rate,C：Real increment of capital stock divided by real increment of output,namely C=I/Y。 12:5814Harrod-Domar Growth ModelHarrod Model Three growth rates of Harrod Real growth rate GCs take GY/Y and C=I/Y into this formula, deduce (Y/Y)(I/Y)S/Y or I/YS/Y or IS This formu

12、la only stands for that real investment and real saving are constant,meanwhile it shows the changing process of output and income,it meant that S is determined by Y, I is determined by increment of income.12:5815Harrod-Domar Growth ModelHarrod Model Three growth rates of Harrod Growth rates satisfie

13、d GwCrs Gw ：It is an aggregate growth rate in the economics of a country,namely,the outcome of economy operating makes enterpriser satisfactory.Formula GwCrshows the essential condition to self-sustained and balanced growth. Cr ：Capital requirement,it is the new investment that increment of output p

14、roduced needs.12:5816Harrod-Domar Growth ModelHarrod Model Three growth rates of HarrodGrowth rates satisfied GwCrs if Y/Y substitute for Gw，I/y substitute for Cr，S/Y substitute for s，then basic meaning of Harrod Model could be understood. (Y/Y)(I/Y)S/Y ， then IS It means that if a country want to b

15、ring out stable growth, then growth rate must make forecasting investment equal forecasting deposit. So that output increasing could induce enough investment and apply the saving of this term. 12:5817Harrod-Domar Growth ModelHarrod Model Three growth rates of HarrodNature growth rate Gnltlt Gn：Natur

16、e growth rate ,it is determined by annual average growth rates of labor force and labor productivity;l ：Annual average growth rate of population and labor force.t ：Annual average growth rate labor productivity;l t： the output increment which is retained by labor who use new technology.12:5818Harrod-

17、Domar Growth ModelDomar growth model Growth of production force YQ I YQ：stand for increment of talent productive capacity in a country ;I：It shows:a quantity net investment can increase the level of labor force, so Ireflects the condition of economic structure supplement. 12:5819Harrod-Domar Growth

18、ModelDomar growth model Aggregate demand that need to be increasedYDI1/ ：=S/Y，it is called saving tendency or saving proportion, it is represented as “s”in H-D model； 1/ ：investment multiplier;YD ：A quantity met extra investment induces the extra aggregate demand and aggregate expenditure .12:5820Ha

19、rrod-Domar Growth ModelDomar growth modelEquilibrium growth in the long run if YQYD，i.e. II1/ I/I I/I: growth rate of net investment. only under this condition,economy can keep the long-run full employment. 12:5821Harrod-Domar Growth ModelDomar growth modelEquilibrium growth in the long run Domar as

20、sumption, marginal propensity to save equals to average propensity to save, so S/Y SY Y/I i.e. Y I Saving of present period should entirely transfer into investment,so SI，YY Y/Y It denotes the required condition of the long-run full employment. 12:5822The Neoclassical Growth ModelThe Cobb Douglas Pr

21、oduction Function YAKL Y: aggregate output ;K:capital quantity; L: labor quantity If +1,Y is linear homogeneous function, YAkL 1；if 1，we get L 11。This function is similar to H-D model. 12:5823The Neoclassical Growth ModelThe Cobb Douglas Production FunctionCharacteristics Basic form of Cobb Douglas

22、production function : YAKL （ 01）It is not linear homogeneous function 1. and respectively represent the relative share of capital /labor to aggregate output.12:5824The Neoclassical Growth ModelThe Cobb Douglas Production Function Characteristics Basic form of Cobb Douglas production function : YAKL

23、（ 01）We also can interpret one input as the input elasticity of output 。 C-D production function can also be named as constant elasticity of substitution production function. 12:5825The Neoclassical Growth ModelMeades neoclassical growth model Basic hypothesis the Meades model is a growth model of o

24、ne single department,which only produce one kind of merchandise. 12:5826The Neoclassical Growth ModelMeades neoclassical growth modelGrowth model three inputs: capital,labor and land(resources), also include time variable.So the production function is : YF (K, L, R, t) 12:5827The Neo Classical Growt

25、h ModelThe equilibrium growth in neoclassical Capital stock growth line K/KReal output growth line Y/YAOKK( )e=YY( )eKK( )e，YY( )eYY( )lKK( )lYK( )lYK( )eor YK12:5828New-Cambridge Economic Growth Model “capital debate”of two Cambridges three questions Capital-intensive problem in aggregate productio

26、n function The distribution share of wages and profits from national income Causal relationship between saving and investment in the dynamic process of social capital expanded reproduction.12:5829New-Cambridge Economic Growth ModelKaldors distribution model Basic hypothesisKaldor distribution model is based on classical saving function. This function represents that saving is the ration of profits to national income,