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Journal of Economic Perspectives: Vol. 8 No. 1 (Winter 1994)
JEP Volume. 8, Issue 1 |
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The Origins of Endogenous Growth
Article Citation
Romer, Paul M. 1994. "The Origins of Endogenous Growth."
Journal of Economic Perspectives,
8(1): 3-22.
DOI: 10.1257/jep.8.1.3
DOI: 10.1257/jep.8.1.3
Abstract
This paper describes two strands of work that converged under the heading of 'endogenous growth.' One strand, which is primarily empirical, asks whether there is a general tendency for poor countries to catch up with rich countries. The other strand, which is primarily theoretical, asks what modifications are necessary to construct a theory of aggregate growth that takes the economics of discovery, innovation, and technological change seriously. The paper argues that the second strand of work will ultimately have a more significant impact on our understanding of growth and our approach to aggregate theory.
Article Full-Text Access
Full-text Article (Complimentary)
Authors
Romer, Paul M. (U CA, Berkeley)
JEL Classifications
O40: Economic Growth and Aggregate Productivity: General
O11: Macroeconomic Analyses of Economic Development
O11: Macroeconomic Analyses of Economic Development
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