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| Tekijä: | Solow, R. M. |
| Otsikko: | Growth theory and after. |
| Lehti: | American Economic Review
1988 : JUN, VOL. 78:3, p. 307-317 |
| Asiasana: | GROWTH THEORY |
| Kieli: | eng |
| Tiivistelmä: | A review is presented of the goals and achievements of growth theory. The historic background of the topic is outlined. The Harrod-Domar theory is analyzed in detail. Problems in the model are highlighted. The neoclassical model of economic growth is examined. Useful results are emphasized. The importance of giving attention to the problems of effective demand is stressed. The question of instability is mentioned. Time-series econometrics is discussed. Theory is compared with empirical observations. Alternative interpretations are described, aggregated models are examined. Recent developments in theory are summarized. |
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