Economic growth and economic development 16
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We start with a quick look at the stylized facts of economic growth and the most
basic model of growth, the Solow growth model. The purpose is both to prepare us
for the analysis of more modern models of economic growth with forward-looking
behavior, explicit capital accumulation and endogenous technological progress, and
also to give us a way of mapping the simplest model to data. We will also discuss differences between proximate and fundamental causes of economic growth and
economic development.
