Endogenous Growth Theory Intellectual Appeal and Empirical….Image.Marked.pdfVIP

Journal of Economic Perspectives—Volume 8, Number 1—Winter 1994–Pages 55–72 Endogenous Growth Theory : Intellectual Appeal and Empirical Shortcomings Howard Pack ollowing along the path pioneered by Romer (1986) and Lucas (1988), endogenous growth theory has led to a welcome resurgence of interest in the determinants of long-term growth. But have the recent theoretical F insights succeeded in providing a better guide to explaining actual growth experience than the