Essay on International Financial Crisis and Endogenous Growth Theory
Essay on International Financial Crisis and Endogenous Growth Theory
Author(s): Boris MolochnySubject(s): Economy
Published by: Τεχνολογικό Εκπαιδευτικό Ίδρυμα Ανατολικής Μακεδονίας και Θράκης
Keywords: Business Coexistence; Endogenous growth theories
Summary/Abstract: This paper reviews endogenous growth theories in the light of the modern reality. It seems that economies which are similar in technologies and preferences are expected to converge to the same level of per capita income. The question “How are repetitions of financial crisis best predicted?” is still not answered. It also seems that combining of these models in a singular theory of business coexistence between neo-classical growth models during “Peace time”, and unpredicted forces and engines, which move economics during “Crisis time”, provide a treatment solution.
Journal: International Journal of Economic Sciences and Applied Research
- Issue Year: II/2009
- Issue No: 1
- Page Range: 7 -15
- Page Count: 9
- Language: English