Chapter 4: Theories of Economic Growth
Chapter Outline
- The Basic Growth Model
- The Harrod-Domar Growth Model
- The Fixed-Coefficient Production Function
- The Capital-Output Ratio and the Harrod-Domar Framework
- Strengths and Weaknesses of the Harrod-Domar Framework
- The Solow (Neoclassical) Growth Model
- The Neoclassical Production Function
- The Basic Equations of the Solow Model
- The Solow Diagram
- Changes in the Saving Rate and Population Growth Rate in the Solow Model
- Technological Change in the Solow Model
- Strengths and Weaknesses of the Solow Framework
- Beyond Solow: New Approaches to Growth
- Two-Sector Models
- The Labor Surplus Model
- The Neoclassical Two-Sector Model
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