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2007, vol. 53, iss. 3-4, pp. 33-43
Concept of economic development in contemporary economic theory: Mechanistic and evolutionary viewpoint
Univeristy of Niš, Faculty of Economy
Abstract
Neoclassical comprehension of economic development, based on the models of economic growth, represents powerful theoretical framework. However mechanistic views that dominate this approach are the source of some theoretical constrains. In the paper major elements are scotched of those theories, that analyze economic development as the interplay of different evolutionary mechanisms. Evolutionary concepts of economic development can have significant contribution to traditional development economics. Furthermore, evolutionary approach must be incorporated into the modern paradigm of economic development.
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article language: Serbian
document type: Review Paper
published in SCIndeks: 28/02/2008