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Endogenous Growth Theory emphasizes internal drivers such as human capital, research, innovation, and knowledge spillovers to sustain long-term economic growth without relying on external factors. Traditional models like the neoclassical growth theory focus on capital accumulation and labor force expansion as drivers of economic growth.
#neoclassical growth theory#capital accumulation#labor force expansion#technological progress#endogenous growth theory#employment#human capital#knowledge spillovers#development#economic growth#research#innovation#infrastructure#education#technology#r&d#income levels
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