Search results
Results from the WOW.Com Content Network
Endogenous growth theory holds that investment in human capital, innovation, and knowledge are significant contributors to economic growth. The theory also focuses on positive externalities and spillover effects of a knowledge-based economy which will lead to economic development. The endogenous growth theory primarily holds that the long run ...
The Solow–Swan model or exogenous growth model is an economic model of long-run economic growth.It attempts to explain long-run economic growth by looking at capital accumulation, labor or population growth, and increases in productivity largely driven by technological progress.
A unified theory of inequality and growth that captures that changing role of inequality in the growth process offers a reconciliation between the conflicting predictions of classical viewpoint that maintained that inequality is beneficial for growth and the modern viewpoint that suggests that in the presence of credit market imperfections ...
Whereas there is empirical evidence that there is a long-run positive correlation between the growth rate of the money stock and the rate of inflation, the quantity theory has proved unreliable in the short- and medium-run time horizon relevant to monetary policy and is abandoned as a practical guideline by most central banks today.
The Club of Rome has persisted after The Limits to Growth and has generally provided comprehensive updates to the book every five years. An independent retrospective on the public debate over The Limits to Growth concluded in 1978 that optimistic attitudes had won out, causing a general loss of momentum in the environmental movement. While ...
Some economists criticise the theory, stating that endogenous factors, such as government policy, are much more influential in economic growth than exogenous factors. For example, Alexander Gerschenkron states that governments can substitute for missing prerequisites to trigger catch-up growth.
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!
The report, called The Limits to Growth, published in 1972, became the first significant study to model the consequences of economic growth. [ 64 ] The reports (also known as the Meadows Reports) are not strictly the founding texts of the degrowth movement, as these reports only advise zero growth , and have also been used to support the ...