The Exogenous growth model, also known as the Neo-classical growth model or Solow growth model is a term used to sum up the contributions of various authors to a model of long-run economic growth within the framework of neoclassical economics.
Exogenous growth theory suffered from three major weaknesses: i.e It could not explain why the gap between the poor and rich countries had widened (anticatch up),
In economics, endogenous growth theory or new growth theory was developed in the 1980s as a response to criticism of the neo-classical growth model OR exogenous growth theory
The Exogenous growth model, also known as the Neo-classical growth model or Solow growth model is a term used to sum up the contributions of various authors to a model of long-run economic growth within the framework of neoclassical economics.
Exogenous growth theory suffered from three major weaknesses: i.e It could not explain why the gap between the poor and rich countries had widened (anticatch up),
In economics, endogenous growth theory or new growth theory was developed in the 1980s as a response to criticism of the neo-classical growth model OR exogenous growth theory
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