OVERVIEW ABOUT THE MOST IMPORTANT THEORIES/MODELS OF ECONOMIC GROWTH

Purpose – the aim of this paper is to present the specific elements of the most important teories/models of economic growth. Methodology/approach - the data sources used in the study are numerous: papers, books etc. This information has been analyzed and interpreted by the authors. Findings – the study shows that the models of economic growth have been developed according to the economic realities of the period in which they have been advanced. Research limitations/implications – the limitations of this study refer to the fact that we did not use an exhaustive approach and we considered only a limited number of theories of economic growth. Practical implications – the practical implications of this study derive from our conclusions, and it refer to the fact that a model of economic growth, in order to be viable, it should take into account the economic realities of the analyzed period. Originality/value – the originality of this study is reflected by the fact that we employ a comparative approach on the most important models of economic growth, from their characteristics’ point of view and not from the point of view of the mathematical models used to develop those theories.