Solowian Growth and AK Models
This chapter, presents the neoclassical theory of growth which is made of two parts; exogenous growth and endogenous growth. Exogenous growth models and Overlapping Generations Models (OLG) are presented. Subsequently, AK models (perceived as the first en
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Theoretical Approaches to Economic Growth and Development An Interdisciplinary Perspective
Theoretical Approaches to Economic Growth and Development
Panagiotis E. Petrakis
Theoretical Approaches to Economic Growth and Development An Interdisciplinary Perspective
Panagiotis E. Petrakis Department of Economics National and Kapodistrian University of Athens Athens, Greece
ISBN 978-3-030-50067-2 ISBN 978-3-030-50068-9 (eBook) https://doi.org/10.1007/978-3-030-50068-9 © The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2020 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, expressed or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. This Palgrave Macmillan imprint is published by the registered company Springer Nature Switzerland AG The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
Acknowledgments
I wish to warmly thank the following people who contributed to the completion of this book: a special thank you to my scientific research team, Dr. K. Kafka, Dr. P. Kostis, and Researcher Mr. D. Valsamis whose cooperation were invaluable and Mr. M. Skotoris and Mr. G. Vasilis who untiringly contributed to the entire project. The mathematical formulations of economic theories and models were done by Dr. K. Stratis and Dr. I. Kostarakos. The language editing was done by Mr. K. Matsoukas. The final responsibility for the presentation of this book lies with the author. My scientific work would not have been completed without the help of my colleagues at the National and Kapodistrian University of Athens and, in particular, Mrs. E. Gkiouli, who contributed significantly to the development of this project.
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Introduction
The purpose of this book is to provide the reader with the theoretical and analytical background needed to understand the process of development and growth as it is conceptualized at the beginning of
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