Endogenous theory of growth
The endogenous theory of growth is an important contribution of years 1980 to the Economic scenes.
It is an answer to the Modèle of Solow. It was developed mainly by Paul Romer and Robert Lucas.
In this theory, the public policies can have an influence on the Growth rate of Long run of the economy. The Technological advance is reinstated in the middle of the growth, it is not more a “residue”. It is endogenous, because it depends on the behavior of the Economic agents and the public actions: the productivity of the economy can be increased by increasing the stock of knowledge, the public infrastructures and the Human capital (education and training of the workers).
This theory was however criticized not to produce more results than the traditional Modèle of Solow (exogenic model of growth ) (cf).
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