Endogenous Growth Theory
- An economic theory which argues that economic growth is generated from within a system as a direct result of internal processes. More specifically, the theory notes that the enhancement of a nation's human capital will lead to economic growth by means of the development of new forms of technology and efficient and effective means of production.
This view contrasts with neoclassical economics, which contends that technological progression and other external factors are the main sources of economic growth. Supporters of endogenous growth theory argue that the productivity and economies of today's industrialized countries compared to the same countries in pre-industrialized eras are evidence that growth was created and sustained from within the country and not through trade.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
Endogenous growth theory — Development Economics … Wikipedia
Endogenous Growth — The notion that policies, internal processes and investment capital, rather than external factors, are chiefly responsible for economic growth. The idea of endogenous growth took root in the 1980s, partly as a response to criticism of the… … Investment dictionary
Unified growth theory — In economics, endogenous growth theory or new growth theory was developed in the 1980s as a response to criticism of the neo classical growth model. In the exogenous neoclassical growth model the long run rate of growth is determined by… … Wikipedia
Economic growth — GDP real growth rates, 1990–1998 and 1990–2006, in selected countries … Wikipedia
Exogenous growth model — The Exogenous growth model, also known as the Neo classical growth model or Solow growth model is a term used to sum up the contributions of various authors to a model of long run economic growth within the framework of neoclassical… … Wikipedia
Neoclassical growth model — See also: Ramsey growth model The neoclassical growth model, also known as the Solow–Swan growth model or exogenous growth model, is a class of economic models of long run economic growth set within the framework of neoclassical economics.… … Wikipedia
New Trade Theory — Economics … Wikipedia
Life history theory — is an analytical framework widely used in animal and human biology, psychology, and evolutionary anthropology which postulates that many of the physiological traits and behaviors of individuals may be best understood in terms of the key… … Wikipedia
Monetary circuit theory — is a heterodox theory of monetary economics, particularly money creation, often associated with the post Keynesian school. It holds that money is created endogenously by the banking sector, rather than exogenously by central bank lending; it… … Wikipedia
Ramsey growth model — The Ramsey growth model is a neo classical model of economic growth based primarily on the work of the economist and mathematician Frank Ramsey. The Solow growth model is similar to the Ramsey growth model, however without incorporating an… … Wikipedia