In the economic science into the 1980er years an endogenous growth theory, was called also new growth theory developed as criticism to that and as answer to the neoclassical development models.

In the neoclassical development models long-term growth is exogenously certain, i.e. the determining factors, like the growth rate of the technical progress as well as the increase of the workers (human capital) lie outside of these models. These factors, so the criticism, explain however the origin of growth and are not thus only reduced helpful. The endogenous growth theory however tries to overcome these deficits, by trying to explain growth endogenously, thus from the model. As a simple forerunner of an endogenous explanation of growth and/or the technical progress the technical progress function can be regarded of Nicholas Kaldor.

The today's endogenous growth theories see the main meaning in "„production "“from new technologies and human capital. The enterprises and inventor are stopped technological progress to generieneren, in order to have an advantage opposite the competitors, by increasing their productivity. Divide this innovative knowledge by other restaurant economics are taken over, what increases again their ability for innovation. The growth process increases by this mechanism. Contrary to the neoclassical (or keynesianischen) growth theories thus technical progress falls not free of charge "“like Manna"” from the sky, but must be produced. Technical progress costs something.

The development of the economy depends itself in such models on it, how expensive innovations are, like rapidly "“imitator"” innovations to transfer to be able and like again the Innovatoren, which newer ones, from all too rapid imitation to protect itself to be able. From therefore it there is not only development models, but they can be consulted also for the explanation by business fluctuations. Finally the models can also explain, why certain countries lie durably in guidance, however depend this on the acceptance over the "“parameters"”, thus as difficult or simple innovation and imitation are.

Models

• the AK-model
• the Uzawa Lucas model
• the Rome he model
• the Aghion Howitt model

Literature

• Lutz Arnold: "“Growth theory"”, Munich 1997. Publishing house Vahlen, ISBN 3-8006-2242-4
• Michael Frenkel, Hans Rimbert Hemmer: "„Bases of the growth theory "“, Munich 2001, publishing house Vahlen, ISBN 3-8006-2396-X
• Paul M. Romer, "“Endogenous Technological CHANGE,"” journal OF Political Economy, volume. 98 (October 1990)
• Philippe Aghion and Peter Howitt. Endogenous Growth Theory. WITH press. 1997.
• Stephen Parente's 2001 review, The failure OF Endogenous Growth (on-line RK the University OF Illinois). (Published in Knowledge Technology & Policy volume XIII, NUMBER 4.)

Articles in category "Endogenous growth theory"

We found here 24 articles.