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Abstract(s)
Fifty year have passed since Solow’s [21] paper on economic growth theory has been published. With a non-specialized reader in mind, we present the main ensuing phases of the theory and the way our own research relates to it. The history of growth theory is conventionally divided into two phases: until early 1970’s, the research is labeled exogenous growth theory, and, starting in late 1980’s until the present, the new growth or endogenous growth theory is being developed. We present the main models of both theories, the stylized facts of growth and a broad view on their compliance of theory with them. At last, we report some avenues that we have been exploring, as well as their motivation and results. This research addresses the topics: existence of multiple BGP’s, indeterminacy, non-monotonous transitions and an exploration on the integration of spatial and growth theories using PDE’s.
Description
Keywords
Exogenous Growth Theory Endogenous Growth Theory Multiple BGP’s, Indeterminacy Non-Monotonous Transitions Spatial Growth
Pedagogical Context
Citation
Brito, Paulo .(2007). “Economic growth theory, fifty years after” ” in A Portrait of State-of-the-art Research at the Technical University of Lisbon, Manuel Seabra Pereira, (Ed.). pp.197-216. (Search Chapter PDF in 2024).