Neoclassical Growth Theory and Heterodox Growth Theory: Opportunities For and Obstacles To Greater Engagement
AbstractThis paper explores the possibilities for and likely impediments to greater engagement between neoclassical and heterodox growth theorists. Simple structural models are used to identify the essential “mechanics” of the growth process in both the neoclassical and heterodox traditions, and these are shown to point to important areas of theoretical overlap and even observational equivalence. It is argued, however, that the resultant opportunities for greater engagement between growth theorists are tempered by a number of obstacles, that are methodological, rhetorical and sociological in nature.
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Bibliographic InfoPaper provided by Trinity College, Department of Economics in its series Working Papers with number 0901.
Length: 33 pages
Date of creation: Dec 2009
Date of revision:
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Neoclassical growth theory; heterodox growth theory; endogenous growth;
Find related papers by JEL classification:
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
- E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-03-13 (All new papers)
- NEP-FDG-2010-03-13 (Financial Development & Growth)
- NEP-PKE-2010-03-13 (Post Keynesian Economics)
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- Cimoli, Mario & Fleitas, Sebastian & Porcile, Gabriel, 2011. "Real Exchange Rate and the Structure of Exports," MPRA Paper 37846, University Library of Munich, Germany.
- Cimoli, Mario & Porcile, Gabriel, 2011.
"Technology, structural change and BOP constrained growth: A structuralist toolbox,"
33800, University Library of Munich, Germany.
- Mario Cimoli & Gabriel Porcile, 2011. "Technology, structural change and BOP constrained growth: a structuralist toolbox," Working Papers 0120, Universidade Federal do Paraná, Department of Economics.
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