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Lecture Notes on Economic Growth(II): Five Prototype Models of Endogenous Growth

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  • Xavier Sala-i-Martin

Abstract

This paper explores the five simplest models of endogenous growth. We start with the AK model (Rebelo (1990)) and argue that all endogenous growth models can be viewed as variations or microfoundations of it. We then examine the Barro (1990) model of government spending and growth. Next we look at the Arrow-Sheshinskj-Romer model of learning by doing and externalities. The Lucas (1988) model of human capital accumulation is then considered. Finally, we present a simple model of R&D and growth.

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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 3564.

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Date of creation: Dec 1990
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Publication status: published as With Casey B. Mulligan, published as "Transition Dynamics in Two-Sector Models of Endogenous Growth", Quarterly Journal of Economics, Vol. 108, no. 3 (1993): 739-773.
Handle: RePEc:nbr:nberwo:3564

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  1. Dixit, Avinash K & Stiglitz, Joseph E, 1975. "Monopolistic Competition and Optimum Product Diversity," The Warwick Economics Research Paper Series (TWERPS) 64, University of Warwick, Department of Economics.
  2. Aghion, P. & Howitt, P., 1989. "A Model Of Growth Through Creative Destruction," UWO Department of Economics Working Papers 8904, University of Western Ontario, Department of Economics.
  3. Backus, David K. & Kehoe, Patrick J. & Kehoe, Timothy J., 1992. "In search of scale effects in trade and growth," Journal of Economic Theory, Elsevier, vol. 58(2), pages 377-409, December.
  4. Spence, Michael, 1976. "Product Selection, Fixed Costs, and Monopolistic Competition," Review of Economic Studies, Wiley Blackwell, vol. 43(2), pages 217-35, June.
  5. Paul M. Romer, 1989. "Human Capital And Growth: Theory and Evidence," NBER Working Papers 3173, National Bureau of Economic Research, Inc.
  6. Paul Romer, 1989. "Endogenous Technological Change," NBER Working Papers 3210, National Bureau of Economic Research, Inc.
  7. Robert G. King & Sergio Rebelo, 1990. "Public Policy and Economic Growth: Developing Neoclassical Implications," NBER Working Papers 3338, National Bureau of Economic Research, Inc.
  8. Barro, Robert J., 1990. "Government Spending in a Simple Model of Endogeneous Growth," Scholarly Articles 3451296, Harvard University Department of Economics.
  9. Gene M. Grossman, 1989. "Explaining Japan's Innovation and Trade: A model of Quality Competition and Dynamic Comparive Advantage," NBER Working Papers 3194, National Bureau of Economic Research, Inc.
  10. Grossman, G.M. & Helpman, E., 1989. "Quality Ladders And Product Cycles," Papers 152, Princeton, Woodrow Wilson School - Public and International Affairs.
  11. Stokey, Nancy L, 1991. "Human Capital, Product Quality, and Growth," The Quarterly Journal of Economics, MIT Press, vol. 106(2), pages 587-616, May.
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  13. Grossman, G.M. & Helpman, E., 1988. "Product Development And International Trade," Papers 132, Princeton, Woodrow Wilson School - Public and International Affairs.
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  15. Romer, P.M., 1988. "Capital Accumulation In The Theory Of Long Run Growth," RCER Working Papers 123, University of Rochester - Center for Economic Research (RCER).
  16. Bencivenga, Valerie R & Smith, Bruce D, 1991. "Financial Intermediation and Endogenous Growth," Review of Economic Studies, Wiley Blackwell, vol. 58(2), pages 195-209, April.
  17. Paul M Romer, 1999. "Increasing Returns and Long-Run Growth," Levine's Working Paper Archive 2232, David K. Levine.
  18. Robert J. Barro & Gary S. Becker, . "Fertility Choice in a Model of Economic Growth," University of Chicago - Population Research Center 88-8, Chicago - Population Research Center.
  19. Gene M. Grossman & Elhanan Helpman, 1989. "Growth and Welfare in A Small Open Economy," NBER Working Papers 2970, National Bureau of Economic Research, Inc.
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  21. Faig, Miquel, 1995. "A simple economy with human capital: Transitional dynamics, technology shocks, and fiscal policies," Journal of Macroeconomics, Elsevier, vol. 17(3), pages 421-446.
  22. King, Robert G & Rebelo, Sergio T, 1993. "Transitional Dynamics and Economic Growth in the Neoclassical Model," American Economic Review, American Economic Association, vol. 83(4), pages 908-31, September.
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Cited by:
  1. Klodt, Henning, 1992. "Theorie der strategischen Handelspolitik und neue Wachstumstheorie als Grundlage für eine Industrie- und Technologiepolitik?," Kiel Working Papers 533, Kiel Institute for the World Economy.
  2. Cecilia Garcia Peñalosa, 1994. "Inequality and growth: a note on recent theories," Investigaciones Economicas, Fundación SEPI, vol. 18(1), pages 97-116, January.
  3. Theo Klundert & Lex Meijdam, 1993. "Endogenous growth and income distribution," Journal of Economics, Springer, vol. 58(1), pages 53-75, February.
  4. Oyama, Masako, 2002. "Capital Market Imperfection and Economic Growth," Discussion Paper 105, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
  5. Stolpe, Michael, 1992. "Ansätze der neuen Wachstumstheorie: ein Literaturüberblick," Kiel Working Papers 508, Kiel Institute for the World Economy.
  6. van Bergeijk, Peter A. G. & van Hagen, Gilbert H. A. & de Mooij, Ruud A. & van Sinderen, Jarig, 1997. "Endogenizing technological progress: The MESEMET Model," Economic Modelling, Elsevier, vol. 14(3), pages 341-367, July.
  7. Job Graca, Saqib Jafarey and Apostolis Philippopoulos, . "Interaction of Human and Physical Capital in a Model of Endogenous Growth," Economics Discussion Papers 429, University of Essex, Department of Economics.
  8. Lau, Sau-Him Paul, 1995. "Welfare-maximizing vs. growth-maximizing shares of government investment and consumption," Economics Letters, Elsevier, vol. 47(3-4), pages 351-359, March.
  9. den Butter, F. A. G. & Wollmer, F. J., 1996. "An empirical model for endogenous technology in the Netherlands," Economic Modelling, Elsevier, vol. 13(1), pages 15-40, January.
  10. Wollmer, F.J. & Butter, F.A.G. den & Hassink, W.H.J., 1991. "Technical progress, endogenous growth and labour productivity : a survey," Serie Research Memoranda 0075, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
  11. van de Klundert, Theo & Smulders, Sjak, 1995. "Strategies for Growth in a Macroeconomic Setting," The Manchester School of Economic & Social Studies, University of Manchester, vol. 63(4), pages 388-411, December.
  12. Chaudhri, D.P. & Wilson, E.J., 2000. "Agricultural Growth, Employment and Poverty: Theoretical and Empirical Explorations with Indian data (1970-1993)," Economics Working Papers wp00-06, School of Economics, University of Wollongong, NSW, Australia.
  13. Verma, R. & Wilson, E.J., 2005. "Savings, Investment, Foreign Inflows and Economic Growth of the Indian Economy 1950-2001," Economics Working Papers wp05-23, School of Economics, University of Wollongong, NSW, Australia.
  14. Ramser, Hans Jürgen, 1992. "Grundlagen der neuen Wachstumstheorie," Discussion Papers, Series 1 261, University of Konstanz, Department of Economics.
  15. Klodt, Henning, 1993. "Theorie der strategischen Handelspolitik und neue Wachstumstheorie als Grundlage für eine Industrie- und Technologiepolitik," Open Access Publications from Kiel Institute for the World Economy 2031, Kiel Institute for the World Economy (IfW).
  16. Dowrick, S, 1993. "New Theory and Evidence on Economic Growth and their Implications for Australian Policy," Economic Analysis and Policy (EAP), Queensland University of Technology (QUT), School of Economics and Finance, vol. 23(2), pages 105-121.
  17. Paqué, Karl-Heinz, 1993. "East-West-wage rigidity in united Germany: Causes and consequences," Kiel Working Papers 572, Kiel Institute for the World Economy.

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