IDEAS home Printed from https://ideas.repec.org/h/spr/sptchp/978-3-319-14265-4_2.html
   My bibliography  Save this book chapter

Neoclassical Growth Theory

In: Economic Growth and Development

Author

Listed:
  • Sibabrata Das

    (International Monetary Fund)

  • Alex Mourmouras

    (International Monetary Fund)

  • Peter C. Rangazas

    (Indiana University-Purdue University Indianapolis (IUPUI))

Abstract

This chapter discusses the one-sector neoclassical growth model—the foundation for all the growth theory in the book. The primary focus of the chapter is growth via capital accumulation. We think of capital as man-made durable inputs to the production process. The first type of capital we include is physical capital. For our purposes, physical capital can be primarily thought of as plant and equipment that is produced in one period and then used in production in the following period. (Definitions of physical capital will vary depending on the purpose at hand. In some cases, physical capital is defined to include inventories, software, land, and other inputs that extend beyond plant and equipment.) To model production, we introduce firms, economic institutionsInstitutions that combine physical capital and labor to produce goods and services.

Suggested Citation

  • Sibabrata Das & Alex Mourmouras & Peter C. Rangazas, 2015. "Neoclassical Growth Theory," Springer Texts in Business and Economics, in: Economic Growth and Development, edition 127, chapter 0, pages 11-50, Springer.
    • Handle: RePEc:spr:sptchp:978-3-319-14265-4_2
    DOI: 10.1007/978-3-319-14265-4_2
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    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:spr:sptchp:978-3-319-14265-4_2. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    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.