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An investigation of the empirical relationship between sectoral & income growth casts doubt on previous studies which have argued that either export or agricultural growth enhances total income growth. It is contended that evidence from the correlation & regression models used to date is inconclusive, & that much of the measured impact of sectoral growth on overall income growth may be spurious in the sense that it can be explained by growth in the underlying inputs. An alternative path model is specified & estimated using 1970-1982 World Bank statistics. 4 Tables, 1 Figure, 16 References. Adapted from the source document.

Published by OpenStax College, Principles of Economics covers the scope and sequence for a two-semester principles of economics course. The text also includes many current examples, including; discussions on the great recession, the controversy among economists over the Affordable Care Act (Obamacare), the recent government shutdown and the appointment of the United States' first female Federal Reserve chair, Janet Yellen. The pedagogical choices, chapter arrangements and learning objective fulfillment were developed and vetted with feedback from educators dedicated to the project. The outcome is a balanced approach to micro and macro economics, to both Keynesian and classical views and to the theory and application of economics concepts. Current events are treated in a politically-balanced way, as well.

Published by OpenStax College, Principles of Macroeconomics covers the scope and sequence for a one-semester economics course. The text also includes many current examples, including: the housing bubble and housing crisis, Zimbabwe's hyperinflation, global unemployment and the appointment of the United States' first female Federal Reserve chair, Janet Yellen. The pedagogical choices, chapter arrangements and learning objective fulfillment were developed and vetted with feedback from educators dedicated to the project. The outcome is a balanced approach to economics, to both Keynesian and classical views, and to the theory and application of economics concepts. Current events are treated in a politically-balanced way, as well.

Based on its outward-oriented development strategy, respectable growth, increased integration into world trade and financial markets, and imperfect though vibrant and wide-based democracy, Turkey is often cited as a development model for other countries in the region and elsewhere. Countering this positive picture of the Turkish economy over the last two decades, however, is the incompleteness of its reform process: the boom-bust nature of its growth, persistently high inflation, delays in privatising state-owned enterprises, and high and persistent government budget deficits. In January 2000 Turkey embarked on an ambitious IMF-backed stabilization program designed to correct the weaknesses in its economy, and, in particular, to reduce inflation to single digits by the end of 2002. Since then, though, Turkey has experienced two financial crises and redesigned its stabilization program to bring inflation down more gradually. This collection analyzes the nature of Turkey's inflation and the likely costs and benefits of disinflation.