Economic Policy, Financial Markets, and Economic Growth

Economic Policy, Financial Markets, and Economic Growth

Economic Policy, Financial Markets, and Economic Growth

Economic Policy, Financial Markets, and Economic Growth


The links between economic policy and economic growth are occasionally obvious but often obscure, with many factors interacting to influence the overall process. The list of parameters affecting economic growth of interest to scholars and policymakers is lengthy and expanding. Although the importance of government policy is widely recognized, the effects of policy on economic growth, in terms of direction and of magnitude, are difficult to measure. In Economic Policy, Financial Markets, and Economic Growth, a group of distinguished scholars offers findings on this ongoing and crucial debate that will be of interest to both academic and policy audiences.


Lowell Milken

The Foundations of the Milken Families were established in 1982 with the mission to help people help themselves and those around them to lead productive and satisfying lives. Since their inception, the Foundations have worked to advance that mission by developing both the human capital of individuals as well as what sociologist James Coleman has termed social capital -- the productive capacity inherent in relations among people. As the Foundations seek to connect the benefits of these forms of capital with concrete opportunities for people to lead lives of creativity and purpose, we create and seek programs which are catalysts for human development. Our focus on the human resources with which this country is so richly endowed, moreover, is common to all the programs we initiate.

The work of the Milken Institute for Job and Capital Formation is a direct outgrowth of the Foundations' mission and reflects the Foundations' commitment to investing in the security of our people, our communities, and our country. Established with a mandate to support research into and discourse on the determinants of American economic growth, the Institute examines the policies and practices needed for meaningful employment opportunities and for an economic environment producing people qualified and prepared to respond to those opportunities.

Central to the Institute's mission is its commitment to developing and maintaining a citizenry which is literate in economics. This book presents the research reported at the first of a series of planned economic conferences. Held in October 1992, the conference focused on "Economic Policy, Financial Markets, and Economic Growth" and brought together economists, business people, and other community leaders. This volume is an important means of reaching a critical academic and policy audience with the Conference's findings.

The Milken Institute for Job and Capital Formation is growing, and as it does it participates more actively and fully in the national discussion of economic policy and policy-making. Toward this end, it has launched . . .

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