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Ideas on a Model of Economic Growth for the UK: An Integrated Framework

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  • Adamou, Marios

Abstract

Economic growth theories have provided significant insights into the mechanisms driving development, yet single-idea models often fall short in addressing the complexities of modern economies. The Solow Growth Model, endogenous growth frameworks, and structural change theories each focus on specific drivers of growth but lack a comprehensive perspective. This paper proposes an integrated overarching model that combines elements from these frameworks, including capital accumulation, human capital, technological progress, structural transformation, institutional quality, and globalisation. By addressing the limitations in existing theories and incorporating debates from Keynesian and monetarist perspectives, as well as insights from public administration and comparative policy studies, this model seeks to provide actionable strategies tailored to the UK’s persistent challenges. These challenges include addressing stagnant productivity, regional inequalities, and post-Brexit uncertainties, offering a pathway to sustainable and inclusive growth.

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  • Adamou, Marios, 2025. "Ideas on a Model of Economic Growth for the UK: An Integrated Framework," OSF Preprints ezfx5, Center for Open Science.
    • Handle: RePEc:osf:osfxxx:ezfx5
    DOI: 10.31219/osf.io/ezfx5
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    References listed on IDEAS

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    1. Romer, Paul M, 1986. "Increasing Returns and Long-run Growth," Journal of Political Economy, University of Chicago Press, vol. 94(5), pages 1002-1037, October.
    2. 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.
    3. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
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