Much of the recent literature distinguishes between exogenous and endogenous growth models. We have studied the former, and now we look at the latter. What is the difference? The importance difference is that in the former the steady-state growth rate is determined exogenously, e.g., technical change. In the latter, it is determined endogenously. The models are interesting because they often le...

In the present review it is not possible to discuss the effects of the numerous endogenous mediators of growth. What we have attempted to do is to indicate the areas of controversy and the need for further research. In our view, four main questions arise. First, what are the relative contributions of the direct and indirect effects of GH? Indeed, if GH can produce all its effects by local produ...

This paper assesses recent theorising and empirical evidence on the impact of fiscal policy—taxes, public expenditures and budget deficits—on long-run growth. It considers the relevance of recent advances in growth theory for low-income countries and compares the evidence for low-income countries with that for middleand highincome (OECD) countries. Recent advances in endogenous growth theory ha...

The study aims to reveal the relationship between financial innovation in banking sector and economic growth for Statistical Region Units Level-1 (12 regions) Türkiye's 81 provinces. In study, annual data from 2010 2021 was employed. Arellano-Bond GMM first differences Pooled Data approach were used as models. coefficient of variable measuring industry significant positive regions findings sugg...

Growth, Development, and Technological Change The theory of endogenous technical change has deeply contributed to our understanding of the fundamental sources of economic growth and development. In this chapter we survey important contributions in the field by focussing on the basic structure of endogenous growth models with horizontal as well as vertical innovation and emphasizing important im...

We set up an endogenous growth model with physical capital, human capital and blueprints for intermediate goods. The model can generate steady-state growth or stagnation. Along the adjustment path for a developing economy we can distinguish di!erent stages of development. The "rst stage is characterized by physical factor accumulation. At the second stage the economy follows a growth path which...

this paper extends endogenous growth models through augmenting it with government budget and oil revenues as well as the effect of public investment efficiency on long run growth of private and government consumption and import for an oil producing economy. based on the extracted model, the optimal growth rate of government current expenditure (or consumption) has a positive relation with the e...