Advanced Search
MyIDEAS: Login

Endogenous Growth Theory: A Critical Assessment

Contents:

Author Info

  • Fine, Ben
Registered author(s):

    Abstract

    A critical assessment is made of endogenous growth theory from the perspective of recent developments within economics as a discipline. These include its increasing mathematical formalisation, its focus upon microfoundations, the casual use of econometrics to test models, and the incorporation of factors that have traditionally been outside mainstream economics. It is found that the theory focuses upon market imperfections and technological progress in a variety of ways, and reconstructs their impact upon the macroeconomy as a growth rather than as a level effect. Whilst the growth rate is endogenised, this leads to the problem of multiple equilibria and extremely complex dynamics. The generalisation from exogenous growth theory is, however, associated with even more extreme assumptions and analytical distance from the socioeconomic processes of growth itself. Copyright 2000 by Oxford University Press.

    Download Info

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below under "Related research" whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Bibliographic Info

    Article provided by Oxford University Press in its journal Cambridge Journal of Economics.

    Volume (Year): 24 (2000)
    Issue (Month): 2 (March)
    Pages: 245-65

    as in new window
    Handle: RePEc:oup:cambje:v:24:y:2000:i:2:p:245-65

    Contact details of provider:
    Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK
    Fax: 01865 267 985
    Email:
    Web page: http://www.cje.oupjournals.org/

    Order Information:
    Web: http://www.oup.co.uk/journals

    Related research

    Keywords:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as in new window

    Cited by:
    1. Maria João Ribeiro, 2003. "Endogenous Growth: Analytical Review of its Generating Mechanisms," NIPE Working Papers 4/2003, NIPE - Universidade do Minho.
    2. Mario Pomini, 2006. "Accumulation of knowledge and increasing returns in neoclassical models," International Review of Economics, Springer, vol. 53(2), pages 135-156, June.
    3. Anthony J Laramie & Douglas Mair, 2013. "Fiscal Policy: Its Role in an Independent Scotland," Working Papers PKWP1307, Post Keynesian Economics Study Group (PKSG).
    4. Brigitte Unger & Martin Zagler, 2000. "Organizational versus Technological Determinants of Innovation," Department of Economics Working Papers wuwp074, Vienna University of Economics, Department of Economics.
    5. Fine, Ben, 2002. "Economics Imperialism and the New Development Economics as Kuhnian Paradigm Shift?," World Development, Elsevier, vol. 30(12), pages 2057-2070, December.
    6. Zuoquan Zhao, 2006. "A Spatial Model of Growth: Taking Technology Seriously," Papers on Entrepreneurship, Growth and Public Policy 2006-12, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
    7. Mark Setterfield, 2003. "Supply and Demand in the Theory of Long-run Growth: Introduction to a symposium on demand-led growth," Review of Political Economy, Taylor & Francis Journals, vol. 15(1), pages 23-32.
    8. Fulvio Castellacci, 2004. "A neo-Schumpeterian Approach to Why Growth Rates Differ," Revue économique, Presses de Sciences-Po, vol. 55(6), pages 1145-1169.
    9. Bartzokas, Anthony & Teubal, Morris, 2001. "A Framework for Policy-Oriented Innovation Studies in Industrialising Countries," UNU-INTECH Discussion Paper Series 6, United Nations University - INTECH.
    10. Hector Rocha, 2004. "Entrepreneurship and Development: The Role of Clusters," Small Business Economics, Springer, vol. 23(5), pages 363-400, October.
    11. Capolupo, Rosa, 2009. "The New Growth Theories and Their Empirics after Twenty Years," Economics - The Open-Access, Open-Assessment E-Journal, Kiel Institute for the World Economy, vol. 3(1), pages 1-72.
    12. Arup Maharatna, 2008. "Development of What? An Exposition of the Politics of Development Economics," Working Papers id:1819, eSocialSciences.
    13. Julia Korosteleva & Colin Lawson, 2010. "The Belarusian case of transition: whither financial repression?," Post-Communist Economies, Taylor & Francis Journals, vol. 22(1), pages 33-53.
    14. Alexiadis, Stilianos & Eleftheriou, Konstantinos & Nijkamp, Peter, 2013. "Technology adoption within a search model: Evidence from OECD countries," Economic Modelling, Elsevier, vol. 33(C), pages 137-148.
    15. Rosa Capolupo, . "The New Growth Theoris and their Empirics," Working Papers 2005_4, Business School - Economics, University of Glasgow.
    16. Fulvio Castellacci, 2007. "Evolutionary And New Growth Theories. Are They Converging?," Journal of Economic Surveys, Wiley Blackwell, vol. 21(3), pages 585-627, 07.
    17. Frank Beckenbach & Ramón Briegel, 2010. "Multi-agent modeling of economic innovation dynamics and its implications for analyzing emission impacts," International Economics and Economic Policy, Springer, vol. 7(2), pages 317-341, August.
    18. Pitelis, Christos, 2009. "Foreign direct investment and economic integration," MPRA Paper 23938, University Library of Munich, Germany.
    19. Rosa Capolupo, 2005. "THE NEW GROWTH THEORIES AND THEIR EMPIRICS, Discussion Paper in Economics, University of Glasgow, N. 2005-04 (http://www.gla.ac.uk/Acad/Economics," GE, Growth, Math methods 0506003, EconWPA.
    20. Stilianos Alexiadis & Konstantinos Eleftheriou & Peter Nijkamp, 2011. "Labor Market Dynamics and Technology Adoption: Theory and Empirical Evidence," Tinbergen Institute Discussion Papers 11-163/3, Tinbergen Institute.

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:oup:cambje:v:24:y:2000:i:2:p:245-65. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press) or (Christopher F. Baum).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.