Understanding the drivers of economic growth: Grounding endogenous economic growth models in resource-advantage theory

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4 Scopus citations

Abstract

Foss (2012) provides an informed and informative comment on my article "Trust, Personal Moral Codes, and the Resource-Advantage Theory of Competition: Explaining Productivity, Economic Growth, and Wealth Creation" (Hunt, 2012). In general, his comment is highly supportive of both the theory and the arguments developed in my article. He does, however, raise certain issues that need to be addressed. These issues relate to the concept of total factor productivity, the role of institutions in promoting economic growth, and the importance of understanding how transaction costs impact entrepreneurship and economic growth. This reply focuses on his discussion of growth economics and endogenous economic growth models.

Original languageEnglish
Pages (from-to)4-8
Number of pages5
JournalContemporary Economics
Volume6
Issue number4
DOIs
StatePublished - 2012

Keywords

  • Economic growth
  • Endogenous economic growth models
  • Ethics
  • Resource-advantage theory
  • Trust

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