Edogenous growth : analytical review of its generating mechanisms

Detalhes bibliográficos
Autor(a) principal: Ribeiro, Maria João
Data de Publicação: 2003
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/1822/6968
Resumo: This paper consists of an analytical review of the most relevant endogenous growth models. The objective of this literature review is to discuss analytically and understand, in an integrated form, the main mechanisms, identified in the existing literature, that generate endogenous growth. Endogenous or new growth theory has, so far, produced three main types of mechanisms through which endogenous sustained positive economic growth is made possible. One strategy brings a theory of innovations or R&D into the growth model. In this type of model, endogenously determined technological progress is the engine of economic growth. The second mechanism delivers sustained positive growth through the introduction of an endogenously determined accumulation of human capital. In this kind of model, the source of long-run per-capita growth is human capital accumulation. And a third way to obtain endogenous growth is simply to abandon one of the standard assumptions of the neoclassical model, more precisely the assumption of diminishing returns to capital.
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spelling Edogenous growth : analytical review of its generating mechanismsNon-diminishing returns to capitalEndogenous growthResearch and development (R&D)Human capital accumulationInada conditionsThis paper consists of an analytical review of the most relevant endogenous growth models. The objective of this literature review is to discuss analytically and understand, in an integrated form, the main mechanisms, identified in the existing literature, that generate endogenous growth. Endogenous or new growth theory has, so far, produced three main types of mechanisms through which endogenous sustained positive economic growth is made possible. One strategy brings a theory of innovations or R&D into the growth model. In this type of model, endogenously determined technological progress is the engine of economic growth. The second mechanism delivers sustained positive growth through the introduction of an endogenously determined accumulation of human capital. In this kind of model, the source of long-run per-capita growth is human capital accumulation. And a third way to obtain endogenous growth is simply to abandon one of the standard assumptions of the neoclassical model, more precisely the assumption of diminishing returns to capital.I wish to thank Sayantan Ghosal for his encouragement, involvement and intellectual stimulation and Marcus Miller for his insightful comments. I am also grateful to Paul Romer. Financial support from Universidade do Minho- Portugal and Fundação Ciência e Tecnologia-Portugal are gratefully acknowledged. The usual disclaimer applies.Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)Universidade do MinhoRibeiro, Maria João20032003-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/1822/6968enginfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-07-21T12:35:12Zoai:repositorium.sdum.uminho.pt:1822/6968Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T19:31:02.031213Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Edogenous growth : analytical review of its generating mechanisms
title Edogenous growth : analytical review of its generating mechanisms
spellingShingle Edogenous growth : analytical review of its generating mechanisms
Ribeiro, Maria João
Non-diminishing returns to capital
Endogenous growth
Research and development (R&D)
Human capital accumulation
Inada conditions
title_short Edogenous growth : analytical review of its generating mechanisms
title_full Edogenous growth : analytical review of its generating mechanisms
title_fullStr Edogenous growth : analytical review of its generating mechanisms
title_full_unstemmed Edogenous growth : analytical review of its generating mechanisms
title_sort Edogenous growth : analytical review of its generating mechanisms
author Ribeiro, Maria João
author_facet Ribeiro, Maria João
author_role author
dc.contributor.none.fl_str_mv Universidade do Minho
dc.contributor.author.fl_str_mv Ribeiro, Maria João
dc.subject.por.fl_str_mv Non-diminishing returns to capital
Endogenous growth
Research and development (R&D)
Human capital accumulation
Inada conditions
topic Non-diminishing returns to capital
Endogenous growth
Research and development (R&D)
Human capital accumulation
Inada conditions
description This paper consists of an analytical review of the most relevant endogenous growth models. The objective of this literature review is to discuss analytically and understand, in an integrated form, the main mechanisms, identified in the existing literature, that generate endogenous growth. Endogenous or new growth theory has, so far, produced three main types of mechanisms through which endogenous sustained positive economic growth is made possible. One strategy brings a theory of innovations or R&D into the growth model. In this type of model, endogenously determined technological progress is the engine of economic growth. The second mechanism delivers sustained positive growth through the introduction of an endogenously determined accumulation of human capital. In this kind of model, the source of long-run per-capita growth is human capital accumulation. And a third way to obtain endogenous growth is simply to abandon one of the standard assumptions of the neoclassical model, more precisely the assumption of diminishing returns to capital.
publishDate 2003
dc.date.none.fl_str_mv 2003
2003-01-01T00:00:00Z
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dc.type.driver.fl_str_mv info:eu-repo/semantics/article
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dc.identifier.uri.fl_str_mv http://hdl.handle.net/1822/6968
url http://hdl.handle.net/1822/6968
dc.language.iso.fl_str_mv eng
language eng
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dc.publisher.none.fl_str_mv Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)
publisher.none.fl_str_mv Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
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