In this fourth part of our series on economic growth and development, I outline the major theories of economic development developed over the past sixty years. I trace the development of such theories beginning with the Harrod-Domar theory, and proceeding through the Solow-Swan model, the Ramsey model, Romer's spillovers model, and endogenous growth theory, in each case discussing their key features, and analysing their strengths and weaknesses. The episode concludes with a brief survey of a range of more recent growth models focusing on modelling coordination failures and poverty traps, emphasising the work of Daron Acemoglu on economic institutions. The Recommended pre-listening is Episode 105: Economic Growth and Development Part III.
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Episode 142: The Greenhouse Effect
Episode 141: Natural Climate Change
Episode 140: A History of Earth's Climate
Special Episode: Dinosaurs in Popular Culture
Episode 139: Cybersecurity and Cryptocurrencies
Episode 138: Biochemistry and Metabolism
Episode 137: The Digestive System
Episode 136: Introduction to General Relativity
Episode 135: The Science of Emotion
Episode 134: Hormones and the Endocrine System
Episode 133: Motor Control
Special Episode: Evolution and Genetics
Episode 132: The Muscular System
Special Episode: Language in Brains and Machines
Episode 131: Sleep Science
Episode 130: Transition Metal Chemistry
Episode 129: Glaciers, Ice, and Groundwater
Episode 128: Wind, Deserts, and Coasts
Episode 127: Weathering, Erosion, and Rivers
Episode 126: Depression and Serotonin
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