Global Risks and the Theory of Economic Growth
Global Risks and the Theory of Economic Growth

Author(s): Orlando Gomes
Subject(s): Social Sciences, Economy
Published by: Udruženje ekonomista i menadžera Balkana
Summary/Abstract: Although global risks may be sorted into different categories economic, environmental, geopolitical, societal, and technological – they are strongly intertwined and they tend to reinforce one another, easily transforming a localized problem into a perfect storm capable of deeply affecting all economic sectors and all aspects of people’s lives. This short essay undertakes a systematic and integrated discussion of global risks in the context of economic growth theory. A standard endogenous growth (SEG) model is adapted and reconfgured into a global risk endogenous growth (GREG) model.

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