Teoretyczne modele wzrostu gospodarczego

Abstract

This paper is given to the issue of growth theory in selected models: neoclassical growth models and models of new growth theory. The concerning neoclassical growth models are: Solow model and augmented Solow model (called Mankiw-Romer-Weil model). Representative models of new growth theory are Lucas and Romer models. The author gives a detailed description of these models and denotes differences between them. According to a neoclassical viewpoint growth is defined as being exogenous. Theorefore neoclassical growth models are able to describe how an economy grows, but not why. The purpose of the new growth theory is to fill this gap in the neoclassical approach to growth by taking a step further in understanding developmental growth. It means that the long-run growth rate of output per worker is determined by variables within the model.