Question1. Describe how the endogenous model is an enhancement to the neo-classical model in explaining the long-run effect of investment on economic growth of a country.
Question2. Using evidences from Barro (1996), explain how the author modelled the “convergence theory of growth”. Are developing countries catching up with the more developed ones or not? Describe.
Question3. “Democracies are growth-promoting entities while totalitarian regimes aren’t” Do you agree with this proclamation?
Question4. Make a distinction between the meaning of Absolute and Relative Poverty and show how each concept is computed for a country like Mauritius.
Question5. Critically observe the possible links between income inequality and economic development, as developed by Birdsall et al. (1995) and Person and Tabellini (1994).
Question6. Explain the relevance of such findings for implementation of development policies in Africa.