KEYNSIAN MODELS OF ECONOMIC GROWTH
Keywords:
economic growth, economic development, institutional change, developing countries, technological modernization, the vicious circle of poverty, productive investment, average national income per capita, “big push” theoryAbstract
The analysis of Keynesian models of economic growth shows that economic development implies profound structural changes in key sectors of the economy. Without the use of advanced technologies, the possibility of quality economic growth is simply ruled out. This means that in current conditions, economic growth can not take place without technological modernization. Consequently, scientific and technological developments are the main source of quantitative and qualitative improvement of economic growth.
