Solow's Model and a New Approach to Economic Growth Factors

• Autorzy: Ilija Rosić
• Języki publikacji: EN

Abstrakty

EN

Economists have long believed that higher accumulation rates lead to economic growth. Solow's approach questioned the reliability of this statement. Solow states quite explicitly that the level of accumulation has no lasting impact on the economic growth of a country which is in the phase of sustainable development. According to Solow's assumptions, the rate of economic growth in the long term, independently of the level of accumulation, is equal to n. (fragment of text)

Słowa kluczowe

EN

Economic growth model; Factors of economic growth; Technological development

PL

Model wzrostu gospodarczego; Czynniki wzrostu gospodarczego; Rozwój technologiczny

• Czasopismo: Zeszyty Naukowe / Polskie Towarzystwo Ekonomiczne
• Rocznik: 2003
• Numer: nr 1
• Strony: 31--39

Twórcy

autor

Ilija Rosić

• University of Kragujevac, Serbia

Bibliografia

• Lucas R., On the Mechanics of Economic Development, "Journal of Monetary Economics", July 1988.
• Romer P., Crazy Explanations for the Productivity Slow-down, Macroeconomics Annual, National Bureau of Economic Research, Cambridge Mass 1987.
• Romer P., Increasing Returns and Long-Run Growth, "Journal of Political Economy", October 1986.
• Sachs J., Larrain F.B., Macroeconomics in the Global Economy, Delo, Moscow 1996.
• Scully G.W., The Institutional Framework and Economic Development, "Journal of Political Economy", June 1988.
• Solow R., Growth Theory. An Exposition, Oxford University Press, New York-Oxford 1998.