ECON 222 Lecture Notes - Lecture 10: Capital AccumulationPremium
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Lecture 10 Long-run Economic Growth
Growth dynamics:the neoclassical growth model
Accounting approach is about the sources of economic growth and it does not completely completely
explain a country’s growth. Performance.
The neoclassical growth model
Clarifies how Capital accumulation and economic growth are interrelated
Explains the factors affecting a nation’s long run standard of living
Is suggestive of how a nation’s long run standard of living
Is suggestive of how a nation’s rate of economic growth evolves over time
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