This chapter commences with the so-called exogenous growth models. It describes the most classic model of the domain, the Solow-Swan model, which explains principally increases in national production by factor accumulation. Also, it presents the short-run equilibrium and the dynamics of Slow-Swan model, and sets forth the exogenous technical progress. The chapter then examines the problem of convergence across different economies, and illustrates a model having two accumulated factors: physical capital and human capital.
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