(Answered) These questions are related to development economics1 what

Economics

These questions are related to development economics.

1. What is the difference between theoretical and empirical growth models? What are the advantages and disadvantages of each?

2. William Easterly and Jeffrey Sachs disagree over the role that foreign assistance should play in promoting economic growth and development. Who is right? Why?

3. Explain what is the Quantitative Theory of Credit? What are the two primary equations behind this theory?

4. How does Richard Werner's bank centered growth model explain the rise and fall of the Japanese economy

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