On the Many Kinds of Growth: A Note

Zvi Eckstein (), Costas Foulides and Tryphon Kollintzas ()

International Economic Review, 1996, vol. 37, issue 2, 487-96

Abstract: In this note, the authors synthesize exogenous and endogenous sources of economic growth in a stochastic dynamic log linear general equilibrium model. Endogenous growth could be the result of internal constant returns to scale, external increasing returns to scale in the production of human capital or in the production of goods. The authors get a closed form log linear representation for the dynamic laws of motion for the human and physical capital stocks. Using the solution, they distinguish between different sources of growth that combine exogenous technical progress with endogenous sources of growth that jointly can generate many possible patterns of economic growth. Copyright 1996 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

Date: 1996
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