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2018 | 21 | nr 4 | 63--84
Tytuł artykułu

Exogenous and Endogenous Growth Models: a Critical Review

Warianty tytułu
Egzogeniczne i endogeniczne modele wzrostu : przegląd krytyczny
Języki publikacji
EN
Abstrakty
Badane obecnie główne działy literatury teoretycznej dotyczącej wzrostu gospodarczego obejmują egzogeniczne i endogeniczne modele wzrostu, które doczekały się wielu różnych definicji i spotkały z krytycznymi uwagami. Zwolennicy egzogenicznych modeli wzrostu twierdzą, że postęp technologiczny jest kluczowym wyznacznikiem długoterminowego wzrostu gospodarczego, jak również różnic w produktywności w skali międzynarodowej. W modelach endogenicznego wzrostu propagowane są dwa poglądy. Pierwszy z nich mówi, że kapitał wykorzystywany do celów innowacyjnych może wywoływać korzyści skali, a tym samym przyczyniać się do powstawania obserwowanych obecnie różnic w produktywności w skali międzynarodowej. Najważniejszymi czynnikami są tutaj: wiedza, kapitał ludzki oraz badania i rozwój. Drugi pogląd mówi, że międzynarodowe różnice w produktywności można również wytłumaczyć czynnikami, które wpływają na efektywność kapitału, a tym samym powodują ucieczkę kapitału,. Czynniki wpływające na efektywność kapitału obejmują: wydatki rządowe, inflację, realne kursy walut i realne stopy procentowe. Wyniki przeprowadzonych badań pokazują, że wśród ekonomistów nadal nie ma konsensusu odnośnie dominującego teoretycznego modelu wzrostu gospodarczego, który może w pełni uwzględniać różnice w produktywności w skali międzynarodowej. W konkluzji stwierdzono, że prace dotyczące teorii wzrostu gospodarczego są dalekie od zakończenia i należy kontynuować prace zmierzające do opracowania bardziej praktycznych modeli strukturalnych wzrostu gospodarczego. (abstrakt oryginalny)
EN
The main divisions of the theoretical economic growth literature that we study today include exogenous and endogenous growth models that have transitioned through a number of notions and criticisms. Proponents of exogenous growth models argue that technological progress is the key determinant of long-run economic growth as well as international productivity differences. Within the endogenous growth models, there are two notions that are propagated. The first postulates that capital used for innovative purposes can exhibit increasing returns to scale and thus account for the international productivity differences we observe today. The key determinants include knowledge, human capital, and research and development. The second argues that factors that affect the efficiency of capital, and hence cause capital flight, can also explain international productivity differences. These factors that affect the efficiency of capital include government spending, inflation, real exchange rates, and real interest rates. Our study results reveal that there is still no agreement on the dominant theoretical economic growth model amongst economists that can fully account for international productivity differences. We conclude that the future of theoretical economic growth is far from over and more work needs to be done to develop more practical structural economic growth models. (original abstract)
Rocznik
Tom
21
Numer
Strony
63--84
Opis fizyczny
Twórcy
  • University of South Africa, Pretoria, South Africa
  • University of South Africa, Pretoria, South Africa
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Typ dokumentu
Bibliografia
Identyfikator YADDA
bwmeta1.element.ekon-element-000171538575

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