
	Where results make sense

Topic: Endogenous growth theory

Related Topics

Robert Solow

Economic growth

Growth accounting

Virtuous cycle

Exogenous

Crowding out (economics)

Paul Krugman

Joseph Schumpeter

Economy of New Zealand

Economies of agglomeration

Agglomeration

Efficiency

Electric charge

Bill Gates

The Simpsons

In the News (Thu 3 Dec 09)

Northern Trust

Marvin Harrison

Peter Chernin

Gary Locke

Match Play

Penelope Cruz

Mickey Rourke

AR Rahman

Danny Boyle

Hugh Jackman

	Endogenous Growth Theory
		The idea that technological change is induced by previous economic conditions one may term "endogenous growth theory".
		The need for a theory of technical change was there: according to some rather famous calculations from Solow (1957), 87.5% of growth in output in the United States between the years 1909 and 1949 could be ascribed to technological improvements alone.
		Thus, the equlibrium growth rate under a competitive system is smaller than the optimal growth rate under a social planner.
	cepa.newschool.edu /het/essays/growth/endogenous.htm (1264 words)

	CiteULike: Critical survey. Endogenous growth theory: a critical assessment
		A critical assessment is made of endogenous growth theory from the perspective of recent developments within economics as a discipline.
		It is found that the theory focuses upon market imperfections and technological progress in a variety of ways, and reconstructs their impact upon the macroeconomy as a growth rather than as a level effect.
		The generalisation from exogenous growth theory is, however, associated with even more extreme assumptions and analytical distance from the socioeconomic processes of growth itself.
	www.citeulike.org /user/jomichell/article/352054 (343 words)

	Intertic, International Think-Tank on Innovation and Competition
		In this framework, entry of firms is endogenous in the sense that all firms expect zero profits at each point in time, but the market structure is indeterminate: whether one or infinite firms produce each good is irrelevant as long as there are constant returns to scale, and strategic interactions do not play any role.
		The main role of a theory of endogenous market structures in macroeconomic analysis is to clarify a new channel through which competition in markets affects the aggregate economy.
		The theory of Schumpeterian growth with endogenous market structures in the competition for the market could be used to investigate the impact of shocks on growth performance.
	www.intertic.org (1098 words)

	Newsletter
		Schumpeterian theory differs fundamentally from the earlier AK versions of endogenous growth theory, in which technological progress was portrayed as just another form of capital accumulation.
		Schumpeterian theory recognizes that, on the contrary, technological change is a social process, and that ever since the start of the Industrial Revolution, people's skills, capital equipment and technological knowledge have been rendered obsolete and destroyed by the same inventions that have created fortunes for others.
		Our new theory treats innovation as a separate activity from saving, and it is explicit about who gains from it, who loses, how the gains and losses depend on social arrangements, and how such arrangements affect society's willingness and ability to progress.
	www.economicdynamics.org /News61.htm (3941 words)

	FISCAL-POLICY-AND-GROWTH-SURVEY (Site not responding. Last check: )
		When growth is endogenous, policy actions affecting the saving rate (fiscal policy can be though as a typical example of such a policy), have growth effects and not only level effects.
		In the case of pure deterministic growth models, instead, we keep fluctuations as exogenous to the model and the goal is to explain the existence of an unceasing growth.
		Section 3 analyzes endogenous growth models driven by human capital accumulation, while the role of the innovative activity as engine of growth is discussed in section 4.
	biblioteca.universia.net /html_bura/ficha/params/id/3996789.html (1878 words)

	Economic Growth, by Paul M. Romer: The Concise Encyclopedia of Economics: Library of Economics and Liberty
		Rapid growth could be achieved in large part by copying industrial practices in the leading countries of the world.
		Suppose that the rate of increase in Japan is 2.6 percent, half a percentage point higher than the recent rate in the United States, and suppose that the rate in North America falls by half a percentage point to 1.6 percent.
		If economic growth could be achieved only by doing more and more of the same kind of cooking, we would eventually run out of raw materials and suffer from unacceptable levels of pollution and nuisance.
	www.econlib.org /library/Enc/EconomicGrowth.html (2767 words)

	Growth in the Post-Bubble Economy (2003-18, 06/27/2003)
		Aggregate data are more useful in studying the overall impact of financial sector development on growth across countries, while the added detail of disaggregated data is useful in identifying the particular channels by which financial development affects growth and in studying the importance of financial regulation.
		This approach, however, has been unable to explain sustained growth without also assuming ongoing productivity growth, because the impact of capital accumulation is limited by diminishing returns for a given labor force; each unit of capital added in the economy will have a smaller marginal improvement on output.
		For example, if financial sector development affects growth mainly through improved monitoring of managers of individual projects, then establishing and enforcing regulations that prevent conflicts of interest that may arise when a person in charge of evaluating a firm has a financial stake in the same firm may improve the health of the financial system.
	www.frbsf.org /publications/economics/letter/2003/el2003-18.html (1739 words)

	[No title] (Site not responding. Last check: )
		Today, with significant advances in growth theory and availability of large databases, economists have realized that long-term fluctuations are at least as important as short-term changes.
		In addition to theory key empirical regularities and findings are discussed and students are encouraged to use their obtained knowledge in computer-lab sessions.
		General aims of the course are to provide the students with background of sources and theory of growth (exogenous as well as endogenous), and in this framework to discuss related real-world issues and apply theory to real data and processes observed in the world.
	www.ceu.hu /crc/Syllabi/alumni/economics/kangur2.html (908 words)

	What Do We Know About Economic Growth?
		The most optimistic vision of the potential impact of policy on growth follows the path laid out by Paul Romer, and is often referred to as "endogenous growth theory." It begins by noting that the engine of growth is-- as Solow demonstrated in the 1950s--the advance of economically-useful knowledge.
		The "endogenous growth" theories carry a clear lesson: boost whatever economic activities are the carriers of advances in the application of knowledge.
		The urgency of a growth agenda is strengthened by the recognition that the United States' social insurance system was designed for the pre-1973 rapid rather than the post-1973 slow pace of growth.Without faster long-term economic growth America's social insurance system as we know it is unlikely to survive the next generation.
	econ161.berkeley.edu /Econ_Articles/hoover/growth_delong_hoover.html (5075 words)

	Amazon.co.uk: Growth Theory: An Exposition: Books: Robert M. Solow (Site not responding. Last check: )
		Despite his criticisms of the new growth theory, the author is quik to acknowledge outstanding contributions made by the new generation of theorists.
		By contrast, the main contribution of the (new) endogenous growth theory is to propose a systematic theory of technological progress, a model that actually explains the rate of growth.
		Despite his criticisms of the new growth theory, the author is quick to acknowledge outstanding contributions made by the new generation of theorists.
	www.amazon.co.uk /Growth-Theory-Exposition-Robert-Solow/dp/0195109031 (1679 words)

	Why Do Growth Rates Differ
		Newer theories of 'endogenous growth' have stressed the role of technological progress – and public policy – as key factors in the growth process.
		Traditional growth theory emphasised the role played by the accumulation of physical capital in order to explain why economies such as the United States are now so much richer than a century ago.
		The new growth models stemmed originally from the work of Paul Romer, who set out to explore the conditions under which an economy could exhibit sustainable growth even though there were no exogenous increases in productivity.
	www.cepr.org /pubs/eep/eep5/WHYDOGRO.HTM (1061 words)

	Economic Growth Theories - Endogenous
		Endogenous growth economists believe that improvements in productivity can be linked to a faster pace of innovation and extra investment in human capital.
		Endogenous growth theorists stress the need for government and private sector institutions and markets which nurture innovation, and provide incentives for individuals to be inventive.
		Endogenous growth theory predicts positive externalities and spill-over effects from development of a high valued-added knowledge economy which is able to develop and maintain a competitive advantage in growth industries in the global economy.
	www.tutor2u.net /economics/content/topics/econgrowth/theory_endogenous.htm (716 words)

	Human Growth Hormone
		Growth hormone is the pituitary secreted hormone that is responsible for the growth of a child to a full sized mature adult.
		Growth hormone therapy will keep your bones dense and strong, and will reduce the likelihood of future osteoporosis; and will improve cognitive functions, and is even likely to lessen the likelihood of certain dementias and other cognitive ailments.
		Human growth hormone is a pituitary released hormone that is responsible for the growth of a child to a mature and full sized adult.
	www.briangreens.com (7654 words)

	Kenneth Arrow
		Arrow was instrumental in kick-starting research into endogenous growth theory (also known as new growth theory) which sought to explain the source of technical change, which is a key driver of economic growth.
		Until this theory came to prominence, technical change was assumed to occur exogenously - that is, it was assumed to occur with no explanation of why it occurred.
		Endogenous growth theory provided standard economic reasons for why firms innovate - so innovation and technical change are determined endogenously - that is, within the model (hence the name).
	www.jewishvirtuallibrary.org /jsource/biography/arrow.html (1387 words)

	Definition of Endogenous growth theory
		In economics, endogenous growth theory was developed in the 1980s as a response to criticism of the neo-classical growth model.
		That is, the source of growth is external to the model (as compared to endogenous growth which originates with a variable within the model).
		Subsidies on research and development or education are generally thought to increase the growth rate.
	www.wordiq.com /definition/Endogenous_growth_theory (233 words)

	Public Policy Sources #37:Growth theory: the causes of economic growth
		During the 1950s, this approach to understanding growth was formalized by Solow (1956) and Swan (1956), and was later extended by Cass (1965) and Koopmans (1965).
		In an endogenous growth framework, however, government policy can affect the long run rate of growth, since government policy actions--taxation, provision of infrastructure, protection of intellectual property, regulations, maintenance of law and order, and so on--can affect the underlying rate of inventive activity.
		Across many studies we find that growth seems to be positively related to human-capital attainment, negatively related to government consumption, positively related to the investment-to-output ratio, positively related to measures of openness to international trade, negatively related to measures of market distortion (i.e.
	oldfraser.lexi.net /publications/pps/37/section_05.html (2068 words)

	Endogenous Growth Theory
		Whereas other books on endogenous growth stress a particular aspect, such as trade or convergence, this book provides a comprehensive survey of the theoretical and empirical debates raised by modern growth theory.
		It develops a powerful engine of analysis that sheds light not only on economic growth per se, but on the many other phenomena that interact with growth, such as inequality, unemployment, capital accumulation, education, competition, natural resources, international trade, economic cycles, and public policy.
		This book is a treatise of the most recent works in endogenous growth theory, and so it may be inappropriate to be used as a textbook for a course.
	www.usingenglish.com /amazon/us/0262011662.html (692 words)

	David K. Levine
		Professor Levine's current research interests include the study of intellectual property and endogenous growth in dynamic general equilibrium models, the endogenous formation of preferences, institutions and social norms, learning in games, and the application of game theory to experimental economics.
		This theory has important implications as well for intellectual property, with the conclusion that existing claims for the necessity of intellectual property in the process of growth and innovation are greatly overstated.
		He was among the first to use quantitative theory to study experimental data, using a model of signalling of intentions to explain altruism and spite in games such as ultimatum bargaining and centipede.
	www.dklevine.com /david.htm (878 words)

	theory Resources on BNET
		The theory implies that countries with a poor ability to enforce contracts are characterized by the...
		This paper discusses the integration of two systems that are based on a specific theory of argumentation: the first, an existing web-based discussion forum; the second, a method to enable autonomous software agents to perform practical reasoning based upon their subscription to social values.
		The distinctive prediction of semi-endogenous theory is that sustained TFP growth requires sustained growth of R&D input.
	search.bnet.com /search/theory.html (1384 words)

	Growth and Trade: Hong Kong, Paper and Abstract
		The ''new'' growth theory, which is sometimes labelled as the endogenous growth theory, has postulated several important factors of growth, and many attempts have been made to apply these factors to explain the growth of different economies at different times.
		While the success of this theory on the empirical ground in explaining economic growth is mixed, one thing is clear: This theory has drawn economists' attention to several growth factors and shown how these factors can be modelled mathematically.
		A general framework was suggested to incorporate several important factors of growth, and it reduces to several endogenous growth models suggested in the literature.
	faculty.washington.edu /karyiu/papers/Gro&Tra-HK.htm (665 words)

	In defence of endogenous growth theory
		Endogenous means, roughly, that growth was generated by internal rather than external factors: neo-classical, roughly, that the use of resources corresponded to what would have happened in competitive markets.
		It really is quite important to know the extent to which the growth of the Asian tiger economies was or was not explained by endogenous neo-classical growth theory, and an answer might well help one understand what is likely to happen in these economies now.
		It is the immediate clarity of meaning to other insiders which legitimises the use of heteroscedastic or endogenous, hypertension or contingent liability, neutrino or ex parte injunction.
	www.johnkay.com /print/71.html (838 words)

	HES: RVW -- Cohen on _Schumpeter and the Endogeneity of Technology_
		This slim but important and compelling book is required reading for anyone who (wrongly) believes that endogenous growth theory has successfully incorporated a theory of technological change, or who is interested in (correctly) understanding the historical process of technological change.
		97-105) on endogenous growth theory, presents the standard representation of labor- augmenting technical progress: y = A(t) f(k/A(t)), where y and k are per-unit of labor output and capital.
		If technological change is endogenous, "then surely that Endogeneity must include the growing body of technological knowledge that provided the intellectual basis for the design and construction of new technologies" (p.
	www.eh.net /pipermail/hes/2003-September/006203.html (1687 words)

	OUP: UK General Catalogue
		To sum up, according to the author, the way to understand exogenous growth theory is to show how aggregate output adjusts to the rate of population growth and the rate of technological process, whatever they happen to be and for however long the persist (treated in Chapters 1-6 and the "Intermezzo").
		By contrast, the main contribution of the (new) endogenous grotwh theory is to propose a systematic theory of technological progress, a model that actually explains the rate of growth.
		Despite his criticisms of the new growth theory, the author is quik to acknowledge outstanding contributions made by the new generation of theorists.
	www.oup.com /uk/catalogue/?ci=9780195109030 (1018 words)

	DETERMINANTS OF ECONOMIC GROWTH
		This thesis studies long-term determinants of economic growth using explanations from the fields of economics, political science, sociology, and geography.
		In keeping with current trends, the focus is on endogenous growth theory and the new variables being studied in the relevant literature.
		Several additional trials are carried out to determine more nuanced information and to test the reliability of the endogenous growth theory model.
	dscholarship.lib.fsu.edu /undergrad/20 (254 words)

	HES: HES : CFP -- "Old and New Growth Theories: An Assessment"
		Interest in the study of economic growth has experienced remarkable ups and downs in the history of economics: It was in the centre of the concerns of the Classical political economists from Adam Smith to David Ricardo, and then of Karl Marx, but moved to the periphery during the so-called 'marginal revolution'.
		John von Neumann's growth model and Roy Harrod's attempt to generalize Keynes's principle of effective demand to the long run re-ignited interest in growth theory.
		The goal of this Conference is to analyze the recent developments in growth theory also in the light of the historical roots of the field.
	www.eh.net /pipermail/hes/2001-April/000262.html (422 words)

	NATURAL CAPITALISM, GROWTH THEORY AND THE SUSTAINABILITY DEBATE
		Section I summarizes the modern arguments of traditional neoclassical and the new endogenous growth theories, section II the sustainability debate which has arisen primarily from environmental and social concerns, and section III the “natural capitalism” arguments.
		The new endogenous growth theory (Romer 1994, 1986, see also Pack 1994) differs from a “Solow style” growth model primarily in the lack of diminishing returns to capital.
		Some economists have attempted to broaden the concepts of economic growth and development by considering the natural environment, the economy, and society as inextricably interrelated.
	web.uccs.edu /ccps/naturalcappage.htm (2980 words)

Try your search on: Qwika (all wikis)