using a neoclassical growth model. The principal idea is that greater fractionalization, proxying for the degree of conflict in society, leads to political instability, which in turn leads to higher ...

Despite their opposing ideologies, they may well offer valuable insights into the future of country.

The neoclassical revival in growth economics: has it gone too far? NBER Macroeconomics Annual, 73-103. Lee, K., Pesaran, M. H. and Smith, R. (1997). Growth and convergence in a multi-country empirical ...

Romer’s work contrasts with neoclassical growth theories that argue that factors affecting ... “Romer built a formal economic model in which technological change was the outcome of intentional ...