Economic growth and economic development 16

We start with a quick look at the stylized facts of economic growth and the most basic model of growth, the Solow growth model The purpose is both to prepare us for the analysis of more modern models of economic growth with forward-looking behavior, explicit capital accumulation and endogenous technological progress, and also to give us a way of mapping the simplest model to data We will also discuss differences between proximate and fundamental causes of economic growth and economic development