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The Hidden Face of Endogenous Growth Theory

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  • Rémy Herrera

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

Abstract

The endogenous growth models are generally presented as (1) a macrodynamic version of Walras's general equilibrium, with microeconomic bases; (2) a break with Solow's representation, which proved incapable of explaining growth; (3) identifying present motors of technical progress and growth by mobilizing notions of knowledge, externalities, and increasing returns; (4) rehabilitating state intervention, particularly in social areas (research, education, etc.); and (5) closing the gap between neoclassical authors and heterodox issues. These positions, on which a consensus has been built, are erroneous. The aim of this article is to contribute to the critique of these models by throwing light on their hidden face, especially on the ambiguities surrounding the state's role in the era of neoliberal globalization.

Suggested Citation

  • Rémy Herrera, 2006. "The Hidden Face of Endogenous Growth Theory," Post-Print hal-00271119, HAL.
    • Handle: RePEc:hal:journl:hal-00271119
    DOI: 10.1177/0486613405285426
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    Cited by:

    1. Rémy Herrera, 2005. "Un renouveau de l'économie du développement ?," Cahiers de la Maison des Sciences Economiques r05075, Université Panthéon-Sorbonne (Paris 1).
    2. Rémy Herrera, 2005. "A revival of the development economics? [Un renouveau de l'économie du développement ?]," Post-Print halshs-00196428, HAL.

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