The subject of this article is a review of the theories and models of economic growth. In the first section, the author analyzes the theories of economic growth, such as Schumpeter's, Lewis's and Rostow’s theory. In the second part there is a review of the models of economic growth. In this...

The balanced growth theory and the neoclassical growth model predict that certain macroeconomic variables such as output, consumption, and investment grow at a constant rate. Analytically, it indicates that the consumption-output ratio and the investment-output ratio (termed "great ratios") must...

This paper studies structural change in production networks for intermediate inputs (input-output network) and new capital (investment network). For each network, we document a declining fraction of production by goods sectors and a rising fraction of production by services sectors. We develop a...