Models of Endogenous Economic Growth and Poverty Trap

神奈川県茅ヶ崎市In the Solow growth model,the steady-state per capita growth rate is determined by the rate of exogenous technological progress.But this model is not helpful for understanding the long-run growth process. We would like to analyze models of endogenous growth in which the returns to capital are not diminished,and then to explain the difference in the level of income per capita across parts of the world.The Growth Accounting pioneered by Solow is applied to explain "East Asian miracle" of rapid growth