Endogenous Theory of Growth and Main Economic Schools
The paper examines the non-equal evaluations of the endogenous or the new theory of the economic growth from the point of view of the concepts for the transaction costs, neoclassic, neoliberalism, post-Keynesism and the “evolution economy”. A conclusion is made that the market structure of the imperfect competition, as well as the “road dependency” of the growth are more important criterion for determining the nature and character of the new theory from the recovering of the long-term sustainable equilibrium of the economy and from the mechanism of the automatic coordination of the savings and investments.
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Volume (Year): (2006)
Issue (Month): 2 ()
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- Joseph E. Stiglitz, 1993. "Endogenous Growth and Cycles," NBER Working Papers 4286, National Bureau of Economic Research, Inc.
- Thomas I. Palley, 1996. "Growth Theory in a Keynesian Mode: Some Keynesian Foundations for New Endogenous Growth Theory," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 19(1), pages 113-135, October.
- Rolf Weder & Herbert Grubel, 1993. "The New Growth Theory and Coasean economics: Institutions to capture externalities," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 129(3), pages 488-513, September.
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