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TitleEndogenous growth : analytical review of its generating mechanisms
Author(s)Ribeiro, Maria João
KeywordsNon-diminishing returns to capital
Endogenous growth
Research and development
Human capital accumulation
Inada conditions
Issue date2003
Series/Report no.Working paper series / NIPE
Abstract(s)This paper consists of an analytical review of the most relevant endogenous growth models. The objective of this literature review is to discuss analytically and understand, in an integrated form, the main mechanisms, identified in the existing literature, that generate endogenous growth. Endogenous or new growth theory has, so far, produced three main types of mechanisms through which endogenous sustained positive economic growth is made possible. One strategy brings a theory of innovations or R&D into the growth model. In this type of model, endogenously determined technological progress is the engine of economic growth. The second mechanism delivers sustained positive growth through the introduction of an endogenously determined accumulation of human capital. In this kind of model, the source of long-run per-capita growth is human capital accumulation. And a third way to obtain endogenous growth is simply to abandon one of the standard assumptions of the neoclassical model, more precisely the assumption of diminishing returns to capital.
TypeWorking paper
AccessOpen access
Appears in Collections:NIPE - Documentos de Trabalho

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