reference entryThe New Palgrave Dictionary of EconomicsApr 25, 2008Closed access

endogenous growth theory

PHPeter Howitt
Indexed incrossref

Abstract

Endogenous growth theory explains long-run growth as emanating from economic activities that create new technological knowledge. This article sketches the outlines of the theory, especially the ‘Schumpeterian’ variety, and briefly describes how the theory has evolved in response to empirical discoveries.

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Topics & keywords

Topics
Keywords
  • Endogenous growth theory
  • Growth theory
  • Variety (cybernetics)
  • Neoclassical economics
  • Economics
  • Computer science
  • Artificial intelligence
  • Market economy
UN Sustainable Development Goals
  • Decent work and economic growth
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