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Reflections on Growth Theory

In: Handbook of Economic Growth

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  • Solow, Robert M.

Abstract

This note contains some general and idiosyncratic reflections on the current state of neoclassical growth theory. It expresses some surprise at the lack of attention both to multi-sector growth models and to multi-country models with trade and capital flows. It also suggests that there might be value in further analysis of some old topics like capital-labor substitution with an expanded definition of capital, and the interaction of growth and medium-run phenomena (or, to put it differently, the interaction of demand-side and supply-side variations).

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This chapter was published in:

  • Philippe Aghion & Steven Durlauf (ed.), 2005. "Handbook of Economic Growth," Handbook of Economic Growth, Elsevier, edition 1, volume 1, number 1.
    This item is provided by Elsevier in its series Handbook of Economic Growth with number 1-00.

    Handle: RePEc:eee:grochp:1-00

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    Web page: http://www.elsevier.com/wps/find/bookseriesdescription.cws_home/BS_HE/description

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    Cited by:
    1. M. Khan & Alexander Zaslavski, 2007. "On a Uniform Turnpike of the Third Kind in the Robinson-Solow-Srinivasan Model," Journal of Economics, Springer, vol. 92(2), pages 137-166, October.
    2. Debdulal Mallick, 2012. "Education Briefing: The role of capital-labour substitution in economic growth," Indian Growth and Development Review, Emerald Group Publishing, vol. 5(1), pages 89-101, April.
    3. Alain Desdoigts & Fernando Jaramillo, 2009. "Trade, demand spillovers, and industrialization: The emerging global middle class in perspective," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00429016, HAL.
    4. Erzo G.J. Luttmer, 2010. "Models of Growth and Firm Heterogeneity," Annual Review of Economics, Annual Reviews, vol. 2(1), pages 547-576, 09.
    5. Debdulal Mallick, 2007. "The Role of Elasticity of Substitution in Economic Growth: A Cross-Country Test of the La Grandville Hypothesis," Economics Series 2007_04, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance.
    6. Khan, M. Ali & Zaslavski, Alexander J., 2007. "On a Uniform Turnpike of the Third Kind in the Robinson-Solow-Srinivasan Model," Economics Working Papers (Ensaios Economicos da EPGE) 641, Graduate School of Economics, Getulio Vargas Foundation (Brazil).
    7. Khan, M. Ali & Zaslavski, Alexander J., 2009. "On existence of optimal programs: The RSS model without concavity assumptions on felicities," Journal of Mathematical Economics, Elsevier, vol. 45(9-10), pages 624-633, September.
    8. Debdulal Mallick, 2007. "Growth and Slowdown of Nations: What Role for the Elasticity of Substitution?," Economics Series 2007_02, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance.
    9. Julen ESTEBAN-PRETEL & SAWADA Yasuyuki, 2009. "On the Role of Policy Interventions in Structural Change and Economic Development: The Case of Postwar Japan," Discussion papers 09001, Research Institute of Economy, Trade and Industry (RIETI).

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