• Corpus ID: 16275721

Old and New Growth Theories: A Unifying Structure?*

  title={Old and New Growth Theories: A Unifying Structure?*},
  author={Stephen J. Turnovsky},
This paper discusses some of the recent theoretical developments in growth theory, tying them to the earlier growth theories. We do this by setting out a basic generic model and show how it yields two of the key models that have played a prominent role in the recent literature on economic growth theory, the endogenous growth model and the non-scale growth model. We focus initially on the former, emphasizing how the simplest such model leads to an equilibrium in which the economy is always on… 

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