Theoretical Approaches to Economic Growth and Development An Interdisciplinary Perspective

This book provides the theoretical and analytical background critical to understand the process of economic development and growth at the beginning of the 21^st century. This book adopts an interdisciplinary approach, using concepts borrowed from related disciplines such as politics, anthropology, psychology, business, and more. The core theme of this book is the argument that different theoretical approaches constitute excellent creative contributions, the study of which is necessary for a complete understanding of development and growth. Thus, this book stands out for its theoretical pluralistic character. The first part of the book provides an introduction to essential methodology terms for the theory of economic development and growth, while the second part outlines important concepts of economic behavior. Part three focuses on the sources of economic growth and their evolution throughout history, and pays special attention to the main theories related to economic growth as well as to the growth and development implications of Covid-19. The book ends with an analysis of international financial architecture and the consolidated financial transaction framework.

Part I. Methodology and Introduction

1. The Methodological Puzzle

2. Introduction to General and Integrated Development and Growth

Part II. Important Concepts of Economic Behavior

3. Economic Action, Cultural Background and Institutions

4. Complex Economic Systems, Information and Forms of Capitalism

5. Politics and Governance

7. Expectations

8. Entrepreneurship

Part III. Growth Sources in Economic Thought

9. Evolution of Economy and Economic Thought

10. The Sources of Growth from the Birth of Economics to the Rise of the New Era

11. The Sources of Growth from the Beginning of Economics to the Emergence of the New Era: Equilibrium, Evolutionary Development, Schumpeter and Keynes

12. Neoclassical Synthesis and Keynesian Development

13. Solowian Growth and AK Models

14. International Trade Relations, Optimum Currency Areas, Externalities and Public Choice

15. The Era of Low Growth and High Inflation: Contemporary International Trade Theories, New Classics, New Keynesian, Human Capital, Contractization Theories, and Behavioral Economics Under Uncertainty

17. Endogenous Growth, Convergence and Evolutionism

18. The Macroeconomic and Development Debate after the Great Recession: The European Crisis, Deleveraging and Secular Stagnation

19. The Macroeconomic and Development Debate after the Great Recession: Fiscal Space, Multipliers and GDP, Debt Supercycle and Supply-Side Economics

20. Growth and Development Implications of Covid-19

Part IV. International Financial Architecture and the Consolidated Financial Transaction Framework

21. International Financial Architecture

22. Central Banks, Reserve Currencies, International Chains, and International Interactions

Panagiotis E. Petrakis is Professor in the Department of Economics at National and Kapodistrian University of Athens, Greece, where he serves as Director of the Sector of International Economics and Development and Scientific Coordinator of Distance Education Training Programs. He was chairman of the Department of Economics at National and Kapodistrian University of Athens from 2005 to 2009. He is the author of numerous scientific articles and monographs and has extensive publications in recognized academic journals on economic development, entrepreneurship, and cultural background.