The Discussion of Economic Growth Models and Its Future Development

In 1939, the British economist Harold established the first economic growth model in the history of modern economics [1]. This marks the introduction of mathematics into the economic theory, which means present-day analysis of economic development has provided more accurate theoretical explanation than the previous theories. Later economists not only conducted researches on the basis of Harold economic growth model, but also put forward a number of different models of economic growth. This article will use two parts to introduce and to discuss comparatively classic examples of these models. These examples play a pivotal role in the development of economic growth models. Finally, according to the discussion of these models, this paper presents three possible future models of economic growth.

Economic growth theory; Endogenous; Solow model

Jinjun Lin. The Discussion of Economic Growth Models and Its Future Development. 2019 Asia-Pacific Forum on Economic and Social Development (APFESD 2019). 2019, Vol.2: 95-99.