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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, this model is tailored to the UK’s economic challenges and highlights actionable strategies for fostering innovation, reforming education, enhancing trade, strengthening governance, and building resilience to shocks. This holistic framework aims to guide the UK toward achieving sustainable and inclusive growth in an increasingly interconnected global economy.

Suggested Citation

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