IDEAS home Printed from https://ideas.repec.org/a/jes/wpaper/y2015v7i3p759-773.html

Contemporary Economic Growth Models And Theories: A Literature Review

Author

Listed:
  • Ilkhom SHARIPOV

    (Doctoral School of Economics and Business Administration, Alexandru Ioan Cuza University of Iasi,)

Abstract

One of the most important aspects of human development is the ability to have a decent standard of living. The secret of the "economic miracle" of many countries that have high standard of living, in fact, is simple and quite obvious. All these countries are characterized by high and sustained development of national economy, low unemployed population rate, growth of income and consumption. There is no doubt that economic growth leads to an increase in the wealth of the country as a whole, extending its potential in the fight against poverty, unemployment and solving other social problems. That is why a high level of economic growth is one of the main targets of economic policy in many countries around the world. This brief literature review discusses main existing theories and models of economic growth, its endogenous and exogenous aspects. The main purpose of this paper is to determine the current state of development of the economic growth theories and to determine their future directions of development.

Suggested Citation

  • Ilkhom SHARIPOV, 2015. "Contemporary Economic Growth Models And Theories: A Literature Review," CES Working Papers, Centre for European Studies, Alexandru Ioan Cuza University, vol. 7(3), pages 759-773, September.
    • Handle: RePEc:jes:wpaper:y:2015:v:7:i:3:p:759-773
    as

    Download full text from publisher

    File URL: http://www.ceswp.uaic.ro/articles/CESWP2015_VII3_SHA.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Robert M. Solow, 1956. "A Contribution to the Theory of Economic Growth," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 70(1), pages 65-94.
    2. Romer, Paul M., 1990. "Human capital and growth: Theory and evidence," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 32(1), pages 251-286, January.
    3. Romer, Paul M, 1990. "Endogenous Technological Change," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 71-102, October.
    4. McDermott, John, 1999. "Mercantilism and Modern Growth," Journal of Economic Growth, Springer, vol. 4(1), pages 55-80, March.
    5. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Magoti, Edwin & Mtui, John M., . "The Relationship between Economic Growth and Service Sector in Tanzania: An Empirical Investigation," African Journal of Economic Review, African Journal of Economic Review, vol. 8(2).
    2. M.M. Ihnatenko & L.O. Marmul & D.S. Ushakov & S.P. Kuchyn, 2019. "Transformation of Approaches to Determine Influence Factors in the Economic Development Models," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(2), pages 290-301.
    3. Ayinde, Taofeek O. & Olaniran, Abeeb O. & Abolade, Onomeabure C. & Ogbonna, Ahamuefula Ephraim, 2023. "Technology shocks - Gold market connection: Is the effect episodic to business cycle behaviour?," Resources Policy, Elsevier, vol. 84(C).
    4. Marian-Pompiliu Cristescu & Raluca-Andreea Nerișanu & Maria Flori & Florin Stoica & Florentina Laura Stoica, 2021. "Analysing the Stock Market as an Economic Lever, Using a Qualitative and a Quantitative Model," Mathematics, MDPI, vol. 9(19), pages 1-19, September.
    5. Mrinal SAIKIA & Prakash DAS & Disha NEOG, 2023. "Evolution of growth theory: from Harrod to Romer," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania / Editura Economica, vol. 0(2(635), S), pages 125-138, Summer.
    6. Safwat Alaa & Salah Ashraf & Elsherif Marwa, 2021. "The Impact of Foreign Direct Investment on the Economic Growth of Egypt (1980-2018)," International Journal of Economics and Financial Issues, Econjournals, vol. 11(5), pages 74-85.
    7. Dr. Caroline Ntara, 2022. "What Does Africa Stand to Gain from the African Continental Free Trade Area?," International Journal of Science and Business, IJSAB International, vol. 16(1), pages 69-90.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Amavilah, Voxi Heinrich, 2018. "Endogenous constraints, coefficients of economic distance, and economic performance of African countries – An exploratory essay," MPRA Paper 90065, University Library of Munich, Germany.
    2. Ejiro U. Osiobe, 2019. "A Literature Review of Human Capital and Economic Growth," Business and Economic Research, Macrothink Institute, vol. 9(4), pages 179-196, December.
    3. Kostakis, Ioannis & Lolos, Sarantis & Doulgeraki, Charikleia, 2020. "Cultural Heritage led Growth: Regional evidence from Greece (1998-2016)," MPRA Paper 98443, University Library of Munich, Germany.
    4. Åsa Johansson, 2016. "Public Finance, Economic Growth and Inequality: A Survey of the Evidence," OECD Economics Department Working Papers 1346, OECD Publishing.
    5. Dakpogan, Arnaud & Smit, Eon, 2018. "The effect of electricity losses on GDP in Benin," MPRA Paper 89545, University Library of Munich, Germany.
    6. Adelaide Duarte & Marta Simões & João Sousa Andrade, 2014. "Estado Social, Quantis, Não-Linearidades e Desempenho Económico: Uma Avaliação Empírica," GEMF Working Papers 2014-21, GEMF, Faculty of Economics, University of Coimbra.
    7. Kunting Chen, 2012. "Analysis of the Great Divergence under a Unified Endogenous Growth Model," Annals of Economics and Finance, Society for AEF, vol. 13(2), pages 317-353, November.
    8. Christian Dreger & Georg Erber & Daniela Glocker, 2008. "Regional Measures of Human Capital in the European Union," SOEPpapers on Multidisciplinary Panel Data Research 137, DIW Berlin, The German Socio-Economic Panel (SOEP).
    9. Ooft, Gavin & Eckhorst, Karel, 2013. "Human Capital Development and Economic Growth in Suriname," EconStor Preprints 215530, ZBW - Leibniz Information Centre for Economics.
    10. Oleg Badunenko & Diego Romero-�vila, 2014. "Productivity Growth across Spanish Regions and Industries: A Production-Frontier Approach," Regional Studies, Taylor & Francis Journals, vol. 48(7), pages 1242-1262, July.
    11. Alejandro Díaz-Bautista & Jorge Eduardo Mendoza Cota, 2004. "Regional Convergence Of Income And Labor Productivity In Mexico," Remef - Revista Mexicana de Economía y Finanzas Nueva Época REMEF (The Mexican Journal of Economics and Finance), Instituto Mexicano de Ejecutivos de Finanzas, IMEF, vol. 3(1), pages 3-20, Marzo 200.
    12. Jean-Marc Fournier & Åsa Johansson, 2016. "The Effect of the Size and the Mix of Public Spending on Growth and Inequality," OECD Economics Department Working Papers 1344, OECD Publishing.
    13. B. Bhaskara Rao & Arusha Cooray, 2012. "How useful is growth literature for policies in the developing countries?," Applied Economics, Taylor & Francis Journals, vol. 44(6), pages 671-681, February.
    14. Morgenroth, Edgar & FitzGerald, John (ed.), 2006. "Ex-ante Evaluation of the Investment Priorities for the National Development Plan 2007-2013," Research Series, Economic and Social Research Institute (ESRI), number PRS59.
    15. Renelt, David, 1991. "Economic growth : a review of the theoretical and empirical literature," Policy Research Working Paper Series 678, The World Bank.
    16. Sylwia Zajączkowska-Jakimiak, 2006. "Wiedza techniczna i kapitał ludzki w teorii wzrostu gospodarczego," Gospodarka Narodowa. The Polish Journal of Economics, Warsaw School of Economics, issue 11-12, pages 47-69.
    17. Jinzhao Chen, 2015. "Interprovincial Competitiveness and Economic Growth: Evidence from Chinese Provincial Data (1992–2008)," Pacific Economic Review, Wiley Blackwell, vol. 20(3), pages 388-414, August.
    18. Jean-Marc Fournier, 2016. "The Positive Effect of Public Investment on Potential Growth," OECD Economics Department Working Papers 1347, OECD Publishing.
    19. Brida, Juan Gabriel & London, Silvia & Rojas, Mara, 2013. "Una aplicación de los árboles de expansión mínima y árboles jerárquicos al estudio de la convergencia interregional en dinámica de regímenes || An Application of Minimum Spanning Trees and Hierarchica," Revista de Métodos Cuantitativos para la Economía y la Empresa = Journal of Quantitative Methods for Economics and Business Administration, Universidad Pablo de Olavide, Department of Quantitative Methods for Economics and Business Administration, vol. 15(1), pages 3-28, June.
    20. Xepapadeas, Anastasios, 1997. "Economic development and environmental pollution: traps and growth," Structural Change and Economic Dynamics, Elsevier, vol. 8(3), pages 327-350, August.

    More about this item

    Keywords

    ;
    ;
    ;

    JEL classification:

    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • E11 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Marxian; Sraffian; Kaleckian
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:jes:wpaper:y:2015:v:7:i:3:p:759-773. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Alupului Ciprian (email available below). General contact details of provider: https://edirc.repec.org/data/csjesro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.