Economic Grwoth

Thither are different drivers of economic growth into state and research has to some extent also demonstrated that it potbelly be associated with typical characteristics of the terra firma too . Explaining economic development through a comparatively new theory of endogenous growth suggest that policy measures , if taken properly , provide exit into long landmark benefits for the country and that the country does non necessarily need to rely on the external or exogenous factors such as technological innovation . The neo-classical models of growth advocated that in to attain a consistent long term economic growth , a consistent change into the technological advances such as new processes , new goods and new markets etc must(prenominal) take place (Aghion et .

al , 1998It has always been believed that high investiture and saving rates in any country operate to sustain high economic growth in that country and that coupled with relatively stable economic outlook , a higher saving rate can significantly result into greater economic growth because a larger pocket billiards of funds will be available to the firms , in the bring of household savings , that can be utilized to the best(p) possible efficiency . It is also imperative to discuss here that the trends of saving markedly differ in developing as well as certain countries as developing countries lam to have high saving rates due to relatively smaller propensity to consume of the general masses . Since developing countries do no possess the strong manufacturing base thereof consumption tends to be relatively low as compared to the developed countries...If you want to get a full essay, order it on our website: Ordercustompaper.com

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