Traditional growth theories have been unable to satisfactorily explain various economi events. New growth theories appear to provide a more satisfactory basis for explaining the rationship between various factors and economic growth.

This paper presents a theoretical link between the yield curve and future economic growth in a simple stochastic growth model. The derived relationship implies that, in a simple competitive production economy, the slope of the yield curve predicts future output growth. This predictive content of...

This paper will critically discuss traditional growth theory by using, as a reference, the main results obtained by Luigi Pasinetti's approach based on vertically integrated processes. It will be argued that theories centred on one commodity models, whether a Ricardo-Marx or Ramsey variety,...

Using the framework of an endogenous growth model, this paper empirically analyses the relationship between trade policies and industrial growth in Pakistan during the period 1973-1995.

This paper argues that accumulation and growth both in Europe and Asia has been sustained by external factors represented by the international level of public expenditure generated by the United States mostly for military and political reasons. Both areas, although through different mechanisms,...