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Economic Growth Model of Endogenous Institutions: Construction and Deduction

  • Lin Yi
  • Chen Xiaoman
Conference paper
Part of the Lecture Notes in Electrical Engineering book series (LNEE, volume 154)

Abstract

In the existing literatures of new institutional economics, the prime assumption was defective that institutions were treated generally as exogenous variables. Based on this problem, in order to reveal the internal relation on institutions and economic growth from a deeper level, through build an expanding Solow model with referring to the treatment methods of endogenous technology, it takes institutional factors into endogenous model and deduces it. Finally, comes to the conclusion that the institutional innovation not only can promote economy to grow effectively, but also engenders the conditional convergence about institutions in economic growth. It means that the model is a reasonable supplement to modern economic growth theories.

Keywords

Economic Growth Institutional Change Empirical Mode Decomposition Balance Growth Path Institutional Innovation 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag London Limited 2012

Authors and Affiliations

  1. 1.School of Public AdministrationSouthwest Jiaotong UniversityCheng DuChina
  2. 2.College of Mobile TelecommunicationsChongqing University of Posts and Telecommunications Chong QingChina

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