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THE MAIN DETERMINANTS AFFECTING ECONOMIC GROWTH

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THE MAIN DETERMINANTS AFFECTING ECONOMIC GROWTH

 

 

Abstract: Growth theories highlight the evolution and trends in economic thought that shaped the way economic growth is perceived. From the early works of Adam Smith and Malthus to the present day researchers have tried to find the most important determinates that influence growth by formulating new and improved theories and models. In this article we try to offer our point of view in the evolution of the main factors that have an impact on economic growth. There is still not a consensus on the key determinants of growth and an all-encompassing model that includes all the influences has not yet been elaborated.

 

Key-words: economic growth, public expenditure, growth theory