Economic Growth Theory in the Twenty-First Century

Orlando Gomes

Annals of Economics and Finance, 2023, vol. 24, issue 1, 39-67

Abstract: Economic growth theory studies the dynamic forces and complex interac- tions that enable societies to progressively increase their material well-being. Neoclassical and endogenous growth models, of the 1950s-1960s and of the 1980s-1990s, respectively, are unanimously recognized as the main building blocks of this theory. Notwithstanding, recent academic work has been able to contribute, as well, with important new insights, which have decisively strengthened and refreshed the theory. This selective survey of up-to-date literature on growth theory highlights some of the most recent essential con- tributions for the discipline, offering a critical assessment about its current state and prospects for its future development.

Keywords: Economic growth; Optimal growth theory; Innovation; Agent heterogeneity; Propagation of ideas; Automation and artificial intelligence (search for similar items in EconPapers)
JEL-codes: O31 O33 O41 O43 O44 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:cuf:journl:y:2023:v:24:i:1:gomes

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