03042oam 22006133a 450 991077983050332120190503073425.00-262-28125-20-585-44262-2(CKB)111056485416682(OCoLC)50757511(SSID)ssj0000108896(PQKBManifestationID)11129575(PQKBTitleCode)TC0000108896(PQKBWorkID)10044761(PQKB)10181760(MiAaPQ)EBC3338430(OCoLC)906261436(OCoLC)923251588(OCoLC-P)906261436(MaCbMITP)1519(Au-PeEL)EBL3338430(CaPaEBR)ebr2001025(OCoLC)923251588(EXLCZ)9911105648541668220131113h20022000 uy 0engurcn|||||||||txtccrBarriers to riches /Stephen L. Parente and Edward C. Prescott1st MIT Press ed.Cambridge, Mass. ;London Mit2002, ©20001 online resource (183 p.)The Walras-Pareto lectures ;3Bibliographic Level Mode of Issuance: Monograph0-262-66130-6 0-262-16193-1 Includes bibliographical references (p. [151]-156) and index.Why isn't the whole world as rich as the United States? Conventional views holds that differences in the share of output invested by countries account for this disparity. Not so, say Stephen Parente and Edward Prescott. In Barriers to Riches, Parente and Prescott argue that differences in Total Factor Productivity (TFP) explain this phenomenon. These differences exist because some countries erect barriers to the efficient use of readily available technology. The purpose of these barriers is to protect industry insiders with vested interests in current production processes from outside competition. Were this protection stopped, rapid TFP growth would follow in the poor countries, and the whole world would soon be rich. Barriers to Riches reflects a decade of research by the authors on this question. Like other books on the subject, it makes use of historical examples and industry studies to illuminate potential explanations for income differences. Unlike these other books, however, it uses aggregate data and general equilibrium models to evaluate the plausibility of alternative explanations. The result of this approach is the most complete and coherent treatment of the subject to date.Walras-Pareto lectures ;3.Economic developmentECONOMICS/Trade & DevelopmentECONOMICS/Political EconomyEconomic development.338.9Parente Stephen L614103Prescott Edward C127092OCoLC-POCoLC-PBOOK9910779830503321Barriers to riches38632UNINA