TY  - JOUR
AU  - Sala-i-Martin,Xavier
TI  - Lecture Notes on Economic Growth(I): Introduction to the Literature and Neoclassical Models
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 3563
PY  - 1990
Y2  - December 1990
UR  - http://www.nber.org/papers/w3563
L1  - http://www.nber.org/papers/w3563.pdf
N1  - Author contact info:
Xavier Sala-i-Martin
Department of Economics
Columbia University
420 West 118th Street, 1005
New York, NY 10027
Tel: 212/854-7055
Fax: 212/854-8059
E-Mail: xs23@columbia.edu
AB  - This is a survey of the literature on Economic Growth. In the introduction we analyze the main differences between exogenous and endogenous growth models using fixed savings rate analysis. We argue that in order to have endogenous growth there must be constant returns to the factors that can be accumulated. A graphical tool is then developed to show that changes in the savings rate have different effects on long run growth in the two kinds of models; we show that only endogenous growth models are affected by shifts in the savings rate. We then explore two versions of the Raasey-Cass-Koopmans neoclassical model where savings are determined optimally; one with exogenous productivity growth and one without.
ER  -