Warianty tytułu
Technological Advance and Economic Growth in Endogenous Models
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Abstrakty
Celem prezentowanego opracowania jest próba teoretycznej specyfikacji czynników determinujących długookresowy wzrost gospodarczy na gruncie podażowych modeli wzrostu endogenicznego. (fragment tekstu)
Technological Advance and Economic Growth in Endogenous Models Summary The author took supply models of endogenous growth to specify the dererminants of long-range economic growth. The conclusions that can be drawn while analysing such a specification indicate that:
1) purposeful investments in knowledge production and human capital while augmenting productivity of capital and labour constitute the prime factor behind the long-term growth of per capita product and of real wages;
2) changes in rates of investments in real assets may alter short-term growth rates of basic macroeconomics indicators causing the economy to follow a corresponding growth path but long-range growth rates of these indicators remain unaffected.
It follows then that high rate of capital formation can effectively influence long-range growth only when accompanied by high investments in knowledge production and human capital. (original abstract)
1) purposeful investments in knowledge production and human capital while augmenting productivity of capital and labour constitute the prime factor behind the long-term growth of per capita product and of real wages;
2) changes in rates of investments in real assets may alter short-term growth rates of basic macroeconomics indicators causing the economy to follow a corresponding growth path but long-range growth rates of these indicators remain unaffected.
It follows then that high rate of capital formation can effectively influence long-range growth only when accompanied by high investments in knowledge production and human capital. (original abstract)
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