Economic growth of a country depends on its industries. The focus of modern growth theory is basically macroeconomics, although neoclassical models use competitive markets and the optimization behavior of households and firms in general equilibrium framework. The emphasis here is on industry growth, where the microfoundations of industry are analyzed in terms of economic efficiency. The various linkages which link firm growth with the industry growth are discerned here under various market structures both competitive and monopolistic. The role of information in facilitating market signals and allowing the adoption of new processes has been especially emphasized in this volume. Many issues of market failure and the suboptimality of competitive equilibria are due to incomplete and imperfect information structures and we need a comprehensive theory of information structures underlying the process of industry growth and its dynamics. This book will be of interest to economists studying economic and industry growth and innovation.
Economic growth of a country depends on its industries. The focus of modern growth theory is basically macroeconomics, although neoclassical models use competitive markets and the optimization behavior of households and firms in general equilibrium framework. The emphasis here is on industry growth, where the microfoundations of industry are analyzed in terms of economic efficiency. The various linkages which link firm growth with the industry growth are discerned here under various market structures both competitive and monopolistic. The role of information in facilitating market signals and allowing the adoption of new processes has been especially emphasized in this volume. Many issues of market failure and the suboptimality of competitive equilibria are due to incomplete and imperfect information structures and we need a comprehensive theory of information structures underlying the process of industry growth and its dynamics. This book will be of interest to economists studying economic and industry growth and innovation.
The dynamics of industry growth, technology and globalization have a dramatic impact on the current economic growth of nations, significantly changing the market structure and world trade, and...
Attainment of the mission of Baha’u’llah for this age – the coming together of all races, tribes, nations, classes and religions in one world culture and civilization – requires that the...
The volume aims to produce an updated collection of advanced theories and methods in the field of urban policies, and highlights modern urban policies that stem from them. Contributions stress the...
The process of healthy growth and maturity in every area of life has its dynamics which much be understoodand applied for the right results. When we cease to grow healthily,...
The book explores, for India and other developing countries, the potential role the organized manufacturing sector could play as an engine of growth. Alongside growth, can this sector generate...
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