Economic Theory, Vol. 29, No. 2, Symposium in Honor of Mukul Majumdar (Oct., 2006), pp. 341-362 (22 pages) We highlight two features of undiscounted optimal growth in the context of a two-sector model ...
Ghanaians see the evidence of economic wear-and-tear every day. Potholes often appear soon after a road project is commissioned. Power plants operate below capacity within a decade. Irrigation ...
But that thinking changed with the emergence of endogenous growth theory, which aims to explain which forces drive innovation ...
His elegant work established that the main determinant of economic growth was technology, not growing capital and labor. By Robert D. Hershey Jr. and Michael M. Weinstein Robert M. Solow, who won a ...
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