Economic growth theory: research perspective

David Tobón Orozco

No 6, Grupo Microeconomía Aplicada from Universidad de Antioquia, Departamento de Economía

Abstract: The search for the main determinants of economic growth of nations as well as the present lack of an explanatory model for macroeconomic phenomena necessarily lead us to the need of a synthesis or explanatory theory. In this sense, the main theoretical findings base on the basic neoclassical model of Solow-Swan are described as well as the problem of diminishing returns. Emphasis is placed on those models which consider capital as a colletion of cumulative factors. Our perspective of work led towards technology and its externalities and the big problems faced by economists today in their understanding and modelling.

Keywords: neoclassical models; technology; externalities. (search for similar items in EconPapers)
JEL-codes: O40 O41 (search for similar items in EconPapers)
Pages: 24 pages
Date: 1996
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