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ti. Discuss how geography. culture. and institutions affect the economic growth of a country. He sure to include in your discussion. the conclusions by David l..andes that the key variable is culture. and by Dani Rodrilt that "instinctions trump every other variable". F. Some |china scholars have identied \"lessons from China" that ought to have guided the transition strategies implemented ht Poland and Russia Evaluate these \"lessons from China\" eg. dual-tacit pricing is the mechanism that allowed China to escape the transformational recession. ti'. Economic management in the 1930s was advised to focus on "getting prices right". the slogan in the 1990s was "getting institutions right.\" Explain the bmis of the broader approach to economic development. especially the importance of this broader approach to increasing the rate of technical innovation. How does the Washington Consensus t into this analysis? SECTION III a. What is the Great Divergence? What are its main quantitative features? Discuss some of the main controversies surround the Great Divergence: When did it begin? Where did it begin? Why did it happen? Has it been exacerbated by globalization? It). The rapid development of NW. European port cities after 15cc could support the argument that trade causes growth or that institutions cause growth. or some min of the two. Explain. Draw on the Accnmgluflohnsona'kobinson \"Rise of Europe\" paper. If. Did protectionism slow growth in the It?\" century? In the late 20" century? Why might the answer have changed? I2. Capital does not ow very plentifully to poor countries today. Does this reect in] the poor countries' low productivity? {bi their distortions? to) their weal: institutions {country risk}? {d} other forces? Discuss. Contrast with conditions in the 1810-1914 era. SECTION I L The recent empirical literature has used two methods. often called "growth accounting" and "development accounting" to inquire into determinants of different growth rates and different income per capita across countries. Having in mind Young [1995} as an example of growth accounting and Hall and Jones [1999] as an example of development accounting describe the procedures. what we learn from each and what are their limits. 2. Analyze the rle of population growth on producvity growth compming three categories of models: the neoclassical model. models of endogenous growth based on capital {physical and human] estemalities and models based on technological innovation. Discuss which empirical evidence on population growth and productivity growth is in favor of each of those. 3. Organise from all the classes you have taken what are the 4-5 most important and interesting facts about growth and development across countries in the world over the last century. Then use the frame of the theoretical models studied and discuss how much progress we made in explaining and accounting for them. 1What are the biggest successes of growth theory in explaining the facts? What are the puzzles still standing? 4. In spite of its simplicity and gross simplications the Solow model1 augmented to include human capital, is still a very powerful and used tool to understand and test facts about economic growth and development. Explain why you believe it is so. Make specic references to key empirical articles that use some important implications of the Solow model and refer to some key features of the model also in relation to the more elegant optimizing neoclassical model and to some of the endogenous growth models. SECFIDN II 5. What implications does the theory of the second best have for the conduct of economic policy? How are the ndings of several multi-counu'y studies on the economic effects of industrial policies [as measured by the effective rate of protection} relevant to the assessment of the applicability of the theory of the second best.'.1|