CHAPTER TWO LITERATURE REVIEW 2.1 Conceptual Framework 2.1.1 Concept of Economic Growth (original) (raw)

Economic growth: a matter of perspective?

Financial global crisis has left in evidence that to be a developed or developing country does not necessary represent a direct correlation with high levels of GDP growth. In fact the fastest-growing economies are not among developed countries. On the contrary, countries that qualified as developing are having the highest rates of economic growth. The qualification of developed-developing country according to their GDP growth needs to be revised. In the past, even if GDP growth were not enough satisfactory were definitely more consistent with the category of developed-developing. Paradoxically that an economy grow faster do not represent a direct relationship with the well-being of their citizens or that could overcome levels of poverty index.

Economic Growth and Economic Development: Concepts and Measures

Review of Regional Studies, 1990

meta-theory or conceptual frameworks and, in so doing, advance our understanding of economic development. This author draws on their concepts and frameworks to define economic growth and economic development more clearly and to suggest face-valid measures of these concepts. With better measures of these basic concepts, alternative theories and models of economic development may be tested more rigorously.

Exploring the Process of Economic Growth

This paper is intended as an introduction to the study of economic growth. It attempts to convey an understanding of the various constituent elements of the process of growth, and to show how they work. It also attempts to give readers an idea of the quantitative magnitudes of these various growth components --how important they have been historically, and what sort of orders of magnitude we can reasonably expect (or hope) them to attain under various future scenarios.

Economic Growth: A Literature Review La croissance économique : Une revue de la littérature

Economic growth is a fundamental concept in economics that describes the long-term expansion of a country's production of goods and services. Economic progress can be measured using other indicators such as per capita income, employment, or human development indicators. However, she is generally measured by the PIB increase. Consequently, for several centuries, researchers have placed a premium on economic growth. Several authors have developed theories of economic growth over time. Smith, Ricardo, Malthus, Marx, Schumpeter, Keynes, Harrod, Domar, Solow, Romer, Lucas, and Barro are examples. As a result, our post will address the following issue: What are the various economic growth theories? The goal of this article is to provide a synopsis of the literature on economic growth theories in order to address this issue. Alternatively, through a synthesized literature review. These theories are classified into two types: traditional theories and growth endogenous theories. The first are as follows: classical theories, Schumpeter theories, Keynes theories, post-Keynesian theories, and neoclassical theories. As a result, these new growth theories feature a wide range of growth sources, including human capital and technological innovation, physical capital and public capital.