Balanced Economic Growth from the Standpoint of Modern Growth Theories
Balanced Economic Growth from the Standpoint of Modern Growth Theories

Summary/Abstract: For decades, world economy has been going through certain processes which vary from expansion to stagnation, and vice versa. For this reason, the factors or causes of economic growth are the key question which dates from the 1770s and Adam Smith’s landmark work “An Inquiry into the Nature and Causes of the Wealth of Nations”. Integrated through world economy, national economies are going through some of the changes which can be explicitly explained by observing the quality of economic growth. Thus, there are regions with sustainable development and balanced economic growth; on the other hand, there are expanding economies which are designated as developing countries. Distortion of world economy, observed through economic growth and inequality of national economies, from the standpoint of economic theories, can be explained by various models of economic growth.

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