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Neoclassical Growth Theory and Heterodox Growth Theory: Opportunities For and Obstacles To Greater Engagement

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  • Mark Setterfield

    ()
    (Department of Economics, Trinity College)

Abstract

This 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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File URL: http://internet2.trincoll.edu/repec/WorkingPapers2009/wp09-01.pdf
File Function: First version, 2009
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Bibliographic Info

Paper provided by Trinity College, Department of Economics in its series Working Papers with number 0901.

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Length: 33 pages
Date of creation: Dec 2009
Date of revision:
Handle: RePEc:tri:wpaper:0901

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Keywords: Neoclassical growth theory; heterodox growth theory; endogenous growth;

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Cited by:
  1. Cimoli, Mario & Porcile, Gabriel, 2011. "Technology, structural change and BOP constrained growth: A structuralist toolbox," MPRA Paper 33800, University Library of Munich, Germany.
  2. Cimoli, Mario & Fleitas, Sebastian & Porcile, Gabriel, 2011. "Real Exchange Rate and the Structure of Exports," MPRA Paper 37846, University Library of Munich, Germany.

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