单词 | endogenous growth theory |
释义 | endogenous growth theoryDefinition The concept that government policies (except international trade policies), access to capital and human resources, and internal processes affect economic growth. The theory, popularized in the 1980s, is used to explain the economic advantages of industrialized countries versus non-industrialized or emerging countries. Technological advancements are discounted when explaining economic growth. Opposite of exogenous growth theory. |
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