Titlebook: Rapid Growth and Relative Decline; Modelling Macroecono Mark Setterfield Book 1997 Palgrave Macmillan, a division of Macmillan Publishers L

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Mark Setterfieldr topical articles on petroleum geology, geochemistry, geophysics, exploration and development, basin modeling, reservoir simulation, and unconventional hydrocarbon resources. With nearly 250 entry articles written by leading researchers and professionals, the Encyclopedia of Petroleum Geoscience pr

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r topical articles on petroleum geology, geochemistry, geophysics, exploration and development, basin modeling, reservoir simulation, and unconventional hydrocarbon resources. With nearly 250 entry articles written by leading researchers and professionals, the Encyclopedia of Petroleum Geoscience pr

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own destruction‘? This book addresses these questions by conceiving growth and structural change as path dependent processes. Methodological, theoretical and empirical insights are combined in an extended model of cumulative causation, which shows how endogenously induced technological and institut

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Conclusion, in particular, the concept of hysteresis — represents a major departure from traditional equilibrium analysis, especially in so far as it calls into question the very usefulness of equilibrium as an organizing concept when studying the evolution of an economic system.

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Book 1997mpirical insights are combined in an extended model of cumulative causation, which shows how endogenously induced technological and institutional changes may cause the dynamics of a period of high growth to break down. This casts new light on the debate over Britain‘s economic decline.

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ical and empirical insights are combined in an extended model of cumulative causation, which shows how endogenously induced technological and institutional changes may cause the dynamics of a period of high growth to break down. This casts new light on the debate over Britain‘s economic decline.978-0-230-37587-1

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