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Essay on International Financial Crisis and Endogenous Growth Theory

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  • Boris Molochny

    (Faculty of Business and Economics, University of Pecs)

Abstract

This paper reviews endogenous growth theories in the light of the modern reality. It seems that economies which are similar in technologies and preferences are expected to converge to the same level of per capita income. The question "How are repetitions of financial crisis best predicted?" is still not answered. It also seems that combining of these models in a singular theory of business coexistence between neo-classical growth models during "Peace time", and unpredicted forces and engines, which move economics during "Crisis time", provide a treatment solution

Suggested Citation

  • Boris Molochny, 2009. "Essay on International Financial Crisis and Endogenous Growth Theory," International Journal of Business and Economic Sciences Applied Research (IJBESAR), Democritus University of Thrace (DUTH), Kavala Campus, Greece, vol. 2(1), pages 7-15, June.
    • Handle: RePEc:tei:journl:v:2:y:2009:i:1:p:7-15
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    File URL: https://ijbesar.af.duth.gr/docs/volume2_issue1/essay.pdf
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    References listed on IDEAS

    as
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    3. T. W. Swan, 1956. "ECONOMIC GROWTH and CAPITAL ACCUMULATION," The Economic Record, The Economic Society of Australia, vol. 32(2), pages 334-361, November.
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    5. Robert G. King & Ross Levine, 1993. "Finance and Growth: Schumpeter Might Be Right," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 108(3), pages 717-737.
    6. K. J. Arrow, 1971. "The Economic Implications of Learning by Doing," Palgrave Macmillan Books, in: F. H. Hahn (ed.), Readings in the Theory of Growth, chapter 11, pages 131-149, Palgrave Macmillan.
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    More about this item

    Keywords

    Business Coexistence; Endogenous growth theories;

    JEL classification:

    • E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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