Publication detail

Economic Growth Theory - A Complicated Way Towards Simple Results?

Author(s): doc. Ing. Ondřej Schneider MPhil., Ph.D.,
Type: Articles in journals with impact factor
Year: 1998
Number: 0
ISSN / ISBN: ISSN: 0015-1920
Published in: Finance a úvěr č. 7/1998, vol 48..
Publishing place: Prague
JEL codes:
Suggested Citation:
Abstract: The growth theory was neglected in the Czech economics in the first years of economic transition, as economists focused on macroeconomic stabilization and transition issues. Nevertheless, it has been gaining importance in last years. The paper tries to frame the Czech economics thinking (and four papers included in this issue) to a broader framework of the growth theory. It sketches the history and the variety of the growth theory from the eighties to the presence. Several models are discussed. It also points out several problems that have to be dealt with in order to get more robust predictions. For example, the level of social spending seems to have either positive, negative or insignificant impact on the economic growth, depending on the author. Therefore, institutional approach is introduced and the new political economy approach is briefly discussed.
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