Journal of Economic Perspectives
ISSN 0895-3309 (Print) | ISSN 1944-7965 (Online)
The Origins of Endogenous Growth
Journal of Economic Perspectives
vol. 8,
no. 1, Winter 1994
(pp. 3–22)
(Complimentary)
Abstract
This paper describes two strands of work that converged under the heading of 'endogenous growth.' One strand, which is primarily empirical, asks whether there is a general tendency for poor countries to catch up with rich countries. The other strand, which is primarily theoretical, asks what modifications are necessary to construct a theory of aggregate growth that takes the economics of discovery, innovation, and technological change seriously. The paper argues that the second strand of work will ultimately have a more significant impact on our understanding of growth and our approach to aggregate theory.Citation
Romer, Paul M. 1994. "The Origins of Endogenous Growth." Journal of Economic Perspectives, 8 (1): 3–22. DOI: 10.1257/jep.8.1.3JEL Classification
- O40 Economic Growth and Aggregate Productivity: General
- O11 Macroeconomic Analyses of Economic Development
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