Summary of endogenous and exogenous growth theories

Reference no: EM13669004

In neoclassical growth models, the sources of growth, is exogenous usually "technology". Such theoretical models hence are able to describe how an economy grows, but not why it grows. To overcome this shortcoming, several growth models have been developed that make growth an endogenous variable. In contrast to neoclassical growth theory, endogenous growth theory argues that policy measures (such as subsidies on R&D and education) can have an increase long-run growth rate of an economy.
Write an essay
· Developing a brief summary of endogenous and exogenous growth theories.
· Analyzing the impact of government policy on the long-term growth rate of an economy.

Please note that a minimum of 700 words and two properly formatted citations are required.

Reference no: EM13669004

Questions Cloud

Briefly describe the relationship between the three rates : Briefly describe the relationship between the three rates.

Face value are currently selling : One-month treasury bills with a $10,000 face value are currently selling

Describe how an open market sale of t-bills : Describe how an open market sale of T-Bills, carried out by the central bank, affects interest rates, the banking system and real economic activity

Midlevel wines consumed primarily in north america : Golden Star Winery produces midlevel wines consumed primarily in North America

Summary of endogenous and exogenous growth theories : Developing a brief summary of endogenous and exogenous growth theories.

What happens in an multivariate optimization : What happens in an multivariate optimization where the first order condition is a constant?

Identify any point where the mrt changes. : Identify any point where the MRT changes.

Challenges associated with implementation : Write, and the outline or abstract must contain how you plan preliminarily to mitigate or resolve this issue or problem.

The price elasticity of demand for qd elastic or inelastic : The price elasticity of demand for QD elastic or inelastic?

User Account

All Pages