Essays on Economic Growth

The Augmented Solow Economic Growth Model

The augmented Solow growth model was postulated by Mankiw et al. (1992), it is basically a framework for understanding various growth patterns that occur. According to the augmented SOLOW growth model, assuming that diminishing returns exist for both human and physical capital, growth of the country’s population, the saving rates and most importantly, progression of...
785 Words 2 Pages

Overview Of Theories Of Economic Growth By Solow, Kaldor, And Kutzens

Inspired by the works of Harrod and Domar on their model of economic growth, Solow (1956) argues that the long-term instability of this growth is based on an unreliable assumption of the presence of fixed proportions in the production. As his contribution to the theory of economic growth, Solow introduces three viable production functions: (1)...
702 Words 2 Pages

The Compatibility Of Environmental Sustainability And Economic Growth

Emerging research regularly confronts the issue of economic growth and environmental sustainability. The world is facing a trilemma of economic growth, population growth, and environmental sustainability. New scientific models have proved the increased incompatibility of economic models for growth and development with environmental sustainability. Also, many governments and international institutions focus on economic growth and...
662 Words 1 Page

The Relationship Between Institutional Strength And Economic Growth

Introduction ”High quality institutions will not prevent the next economic crises in a market economy, but they do raise the odds that a society can cope with and recover from such crisis and continue on its long term trajectory of progress”(Bruinshoofd, 2016). A country institutions are entities which regulate, execute, and protect rules which a...
2317 Words 5 Pages

The Relationship Between Democracy And Economic Growth

Regime type and its effect on economic growth has been a vastly studied topic. Despite the lack of unanimity between scholars over what type of, if any, relationship exists. However, there is evidence of convincing academic work showcasing that the presence of a relationship between democratic frameworks and economic development is present, either as a...
868 Words 2 Pages

The Role Of Financial Markets In The Process Of Economic Growth

This essay is aimed at finding out the relationship between financial development and economic growth. This concern about financial deepening and economic growth finds its root in the policy implications that the relationship can bring about, as improved living standards for their citizens as well as increased economic growth rates are the goals sought by...
1128 Words 2 Pages

The Relationship Between Economic Growth And Resource Scarcity

Whether economic growth can really solve the problem of scarcity will be explored in this essay. Perhaps it could be said that scarcity is an unsolvable issue that nothing in this world can completely eliminate. Scarcity is basically describing how human wants are infinite while resources are limited. It is a condition within humans, showing...
1239 Words 3 Pages
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