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Evolutionary Economics, Endogenous Growth Models, and Resource-Advantage Theory

Author

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  • Shelby D. Hunt

    (Texas Tech University)

Abstract

The gap between evolutionary and neoclassical economics remains large. This article proposed that the gap can be narrowed by evolutionary economies developing process theories that can provide evolutionary theoretical foundations for formal models in the neoclassical equilibrium tradition. This article argues that a process of competitions labeled "resource-advantage theory," can provide an evolutionary, theoretical foundation for formal models of endogenous economic growth.

Suggested Citation

  • Shelby D. Hunt, 1997. "Evolutionary Economics, Endogenous Growth Models, and Resource-Advantage Theory," Eastern Economic Journal, Eastern Economic Association, vol. 23(4), pages 425-439, Fall.
    • Handle: RePEc:eej:eeconj:v:23:y:1997:i:4:p:425-439
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    File URL: http://web.holycross.edu/RePEc/eej/Archive/Volume23/V23N4P425_439.pdf
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    Citations

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    Cited by:

    1. Shelby D. Hunt, 2012. "Understanding the Drivers of Economic Growth: Grounding Endogenous Economic Growth Models in Resource-Advantage Theory," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 6(4), December.
    2. Hunt, Shelby D. & Duhan, Dale F., 2002. "Competition in the third millennium: efficiency or effectiveness?," Journal of Business Research, Elsevier, vol. 55(2), pages 97-102, February.
    3. Cacciolatti, Luca & Lee, Soo Hee, 2016. "Revisiting the relationship between marketing capabilities and firm performance: The moderating role of market orientation, marketing strategy and organisational power," Journal of Business Research, Elsevier, vol. 69(12), pages 5597-5610.
    4. Manuel Portugal Ferreira & Fernando A. Ribeiro Serra & Dan Li & Sungu Armagan, 2009. "Adaptation to the International Business Environment: A resource advantage perspective," Working Papers 38, globADVANTAGE, Polytechnic Institute of Leiria.
    5. Hunt, Shelby D. & Arnett, Dennis B., 2006. "Does marketing success lead to market success?," Journal of Business Research, Elsevier, vol. 59(7), pages 820-828, July.
    6. Shelby D. Hunt, 2011. "Developing successful theories in marketing: insights from resource-advantage theory," AMS Review, Springer;Academy of Marketing Science, vol. 1(2), pages 72-84, June.
    7. Shelby D. Hunt, 2012. "Trust, Personal Moral Codes, and the Resource-Advantage Theory of Competition: Explaining Productivity, Economic Growth, and Wealth Creation," Contemporary Economics, University of Economics and Human Sciences in Warsaw., vol. 6(2), June.

    More about this item

    Keywords

    Evolutionary Economics; Evolutionary; Growth; Neo Classical;
    All these keywords.

    JEL classification:

    • O40 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School

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