Concepts of and Models for Growth and Development Dynamics

Henning Schwardt
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Henning Schwardt: Institute for Institutional and Innovation Economics (iino) University of Bremen

Chapter 2 in Institutions, Technology, and Circular and Cumulative Causation in Economics, 2013, pp 10-57 from Palgrave Macmillan

Abstract: Abstract In this chapter we discuss principal approaches formulated for addressing questions of economic growth and development, with a focus on the understanding of the processes involved that they offer. In detail, we discuss the principal formulations of neoclassical growth theory, development economics, and the new as well as the original institutional economics (NIE and OIE respectively). Approaches based on other theoretical foundations, especially in the formalization of growth models, will briefly be touched upon where appropriate.

Keywords: Development Dynamics; Total Factor Productivity; Physical Capital; Institutional Framework; Balance Growth (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-33388-9_2

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DOI: 10.1057/9781137333889_2

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