This study estimates and tests the endogeneity of the natural rate of growth using the balance-of-payments consistent rate of growth (BPCRG) instead of the actual rate of growth. Our approach is also theoretically compatible with the one proposed by Thirlwall (2001). Following this idea, we...

This study answers the question: What are the results of assuming the nature of technological progress as Harrod-neutral in growth accounting for the Middle East and North African (MENA) countries? Accordingly, this study contributes to the debate over whether the sources of economic growth stem...

This study estimates and tests the endogeneity of the natural rate of growth using the balance-of-payments consistent rate of growth (BPCRG) instead of the actual rate of growth. Our approach is also theoretically compatible with the one proposed by Thirlwall (2001). Following this idea, we...

The purpose of this paper is to examine the sensitivity of the Turkish economy’s natural rate of growth to the actual rate of growth, covering the period 1980-2008. To determine the reason why the natural rate of growth is endogenous, the long-run and the causality relationships between real...

The aims of this study are i) to match possible theoretical goals with economic policy goals which are required for the development strategy and ii) to show the quantities required in order to reach those goals. This paper also assumes that the goals cannot be necessarily profit maximization,...

This study is only a short reminder which emphasizes some important characteristics of steady-state. According to the study, since constant returns to scale conditions imply full capacity or full employment and it is compatible with steady-state, then, steady-state conditions indicate full...

This study points out to a contradiction between increasing returns to scale assumption and steady-state or long run equilibrium or balanced growth analysis in models of endogenous growth. The paper reminds the necessity of the constant returns to scale assumption in models of economic growth,...

This study proposes a testing procedure for neoclassical and Kaldorian perspectives to analyze sources of growth. If the Solow model is valid, then supply-side implications will be important. However, if the Kaldor model is valid, then it means that both supply-side and demand-side explanations...

The textbook explanation of the Solow model assumes implicitly that there are stationary, rather than steady-state, conditions. This study shows that the stationary-state conditions assumption is not compatible with the neoclassical postulate. The Solow model explains long term equilibrium at...

This study estimates and tests the endogeneity of the natural rate of growth using the balance-of-payments consistent rate of growth (BPCRG) instead of the actual rate of growth. Our approach is also theoretically compatible with the one proposed by Thirlwall (2001). Following this idea, we...