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Reflections on Growth Theory

In: Handbook of Economic Growth

Author

Listed:
  • Solow, Robert M.

Abstract

This note contains some general and idiosyncratic reflections on the current state of neoclassical growth theory. It expresses some surprise at the lack of attention both to multi-sector growth models and to multi-country models with trade and capital flows. It also suggests that there might be value in further analysis of some old topics like capital-labor substitution with an expanded definition of capital, and the interaction of growth and medium-run phenomena (or, to put it differently, the interaction of demand-side and supply-side variations).

Suggested Citation

  • Solow, Robert M., 2005. "Reflections on Growth Theory," Handbook of Economic Growth,in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 0, pages 3-10 Elsevier.
  • Handle: RePEc:eee:grochp:1-00
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    Citations

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    Cited by:

    1. Debdulal Mallick, 2012. "The role of capital-labour substitution in economic growth," Indian Growth and Development Review, Emerald Group Publishing, vol. 5(1), pages 89-101, April.
    2. Desdoigts, Alain & Jaramillo, Fernando, 2009. "Trade, demand spillovers, and industrialization: The emerging global middle class in perspective," Journal of International Economics, Elsevier, vol. 79(2), pages 248-258, November.
    3. Erzo G.J. Luttmer, 2010. "Models of Growth and Firm Heterogeneity," Annual Review of Economics, Annual Reviews, vol. 2(1), pages 547-576, September.
    4. Esteban-Pretel, Julen & Sawada, Yasuyuki, 2014. "On the role of policy interventions in structural change and economic development: The case of postwar Japan," Journal of Economic Dynamics and Control, Elsevier, vol. 40(C), pages 67-83.
    5. M. Khan & Alexander Zaslavski, 2007. "On a Uniform Turnpike of the Third Kind in the Robinson-Solow-Srinivasan Model," Journal of Economics, Springer, vol. 92(2), pages 137-166, October.
    6. Alain Desdoigts & Fernando Jaramillo, 2017. "Learning by Doing, Inequality, and Sustained Growth: A Middle-class Perspective," EUSP Department of Economics Working Paper Series 2017/05, European University at St. Petersburg, Department of Economics.
    7. Jorgenson, Dale W. & Goettle, Richard J. & Ho, Mun S. & Wilcoxen, Peter J., 2013. "Energy, the Environment and US Economic Growth," Handbook of Computable General Equilibrium Modeling, Elsevier.
    8. Jorgenson, Dale W., 2016. "Econometric general equilibrium modeling," Journal of Policy Modeling, Elsevier, vol. 38(3), pages 436-447.
    9. Wolfgang Kornprobst, 2007. "Horizontale und vertikale Innovationen in einem semi-endogenen Wachstumsmodell mit Kapitalakkumulation," Working Papers 033, Bavarian Graduate Program in Economics (BGPE).
    10. Khan, M. Ali & Zaslavski, Alexander J., 2009. "On existence of optimal programs: The RSS model without concavity assumptions on felicities," Journal of Mathematical Economics, Elsevier, vol. 45(9-10), pages 624-633, September.

    More about this item

    JEL classification:

    • O0 - Economic Development, Innovation, Technological Change, and Growth - - General

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