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FROM KEYNESIAN OVER NEOCLASSICAL TO NEW GROWTH THEORY AND AFfER
Marjan Senjur
; University of Ljubljana, Slovenia
Abstract
The modem growth began as Keynesian theory with articles of Harrod and Domar. Later neoclassical theory began with article of Solow. The differences between two models are fundamentals and can not be reduced to technicals of properties of production functon. In time the neoclassical growth theory crowded out keynesian approach and now prevails. The revival of growth theory in late eighties in form of new growth theory is based on neoclassical theory. The aggregate growth theory has to extended with development theory and with industrial economics.
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Hrčak ID:
222293
URI
Publication date:
2.10.1996.
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