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In this paper, we develop the idea of the Sraffian Supermultiplier, presenting it as an alternative to traditional neoclassical thought about economic growth and economic policy. Thus, a brief introduction is made about the importance of economic growth for classical economists, followed by the development of Harrod's model and the different solutions that have raised for sorting the problem of instability. Finally, we present the supermultiplier model of Serrano together with international empirical evidence that supports it and some proposals of economic policy are made. [ABSTRACT FROM AUTHOR]

This paper presents evidence that macroeconomic accounting models helped to anticipate the credit crisis and economic recession, whereas equilibrium models, ubiquitous in mainstream policy and research, did not. This study traces the intellectual pedigree of the accounting approach as an alternative to neo-classical economics, and the postwar rise and decline of flow-of-funds models in policy use. The paper includes contemporary case studies of both types of models, and considers why the accounting approach has remained outside mainstream economics. Finally, it provides constructive recommendations for revising financial stability evaluation methods, and advocates an 'accounting of economics'. [ABSTRACT FROM AUTHOR]

This paper uses a new measure of financial development to show that many benefits in terms of growth and stability can still be reaped from further financial development in most emerging markets. First, it defines financial development as a combination of depth, access and efficiency. Second, it highlights that the economic growth weakens at higher levels of financial development. Third, it indicates that the pace of financial development matters. Forth, it provides a new angle related to the tradeoffs of financial regulation. Finally, it finds that there is no "one-size-fits-all" in the sequencing of developing financial institutions versus markets, though as economies evolve the relative benefits from institutions decline and those from markets increase. [ABSTRACT FROM AUTHOR]