Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/273053 
Year of Publication: 
2022
Series/Report no.: 
EERI Research Paper Series No. 09/2022
Publisher: 
Economics and Econometrics Research Institute (EERI), Brussels
Abstract: 
The objective of this paper is to propose an analytical framework to examine the foundations of the theory of efficient growth. The theory of efficient growth is a newly developed theory based on the principles of the neoclassical framework. It argues that an economy grows efficiently under two conditions. First, that the public and the private sectors both perform independently from each other. Second, the sum of their independent performances reaches an equilibrium. This equilibrium determines the optimum point of economic growth, and this optimal point illustrates the efficiency of economic growth.
Subjects: 
Economic growth
mathematical economics
economic theory
macroeconomics
business cycle
fiscal policy
JEL: 
E62
O42
O43
R13
Document Type: 
Working Paper

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