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The New Theories of Endogenous Growth

In: Growth, Trade and Endogenous Technology

Author

Listed:
  • Orlando A. Ochoa

    (Instituto de Estudor Superiores de Administración)

Abstract

This chapter presents the central theoretical underpinning of this research: the concept of technological knowledge accumulation and its implications for economic growth. Traditional work on economic growth, exemplified by Solow (1956) and Denison (1967), assumed that the rate of technological change was exogenous. Recently economists have started to model the process of knowledge accumulation. The resulting literature is known as endogenous growth theory.

Suggested Citation

  • Orlando A. Ochoa, 1996. "The New Theories of Endogenous Growth," Palgrave Macmillan Books, in: Growth, Trade and Endogenous Technology, chapter 2, pages 8-18, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-37778-3_2
    DOI: 10.1057/9780230377783_2
    as

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