KENNY, CHARLES - In: Journal of International Commerce, Economics and Policy … 03 (2012) 02, pp. 1250009-1
Robert Solow's model of "exogenous" economic growth driven by the global diffusion of technology is out of fashion because it is contradicted by empirical evidence of income divergence. Today, economic growth is considered "endogenous" and institutions are seen as central to the long-term growth...