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Role of Knowledge and capital in Economic Growth, The

  • Author: UNU
  • Publication date: September 1999
  • Page count: 38
  • Language(s) in this book: English
  • Sales number: 99.III.A.10

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About the product

Starting from the celebrated neoclassical (Solow) model of economic growth, this publication discusses new ideas in growth theory focusing on how to make sustained growth feasible. It reviews models that broadened the notion of capital to include human capital and the state of technology. The publication also surveys models, that make technological progress endogenous by allowing firms to undertake investment aimed either at producing new goods or at developing new production methods.