Briefing Paper on endogenous growth theory in connection of forth-coming meeting with CBI and a Treasury team. Prepared for: Mrs Smith (The Boss)Date:31 Oct 2003 Prepared by: Ann Smith Endogenous growth theory is an extension from one basic neoclassical growth model, which was first formalised by Robert Solow in 1950's. There are a number of basic assumptions underlying the neoclassical growth model. The first one is that the productive capacity of the economy can be …
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