Understanding the Sources of Economic Growth: Based on a Simplified Production Function
This paper attempts to organically integrate technological progress, division of labor and specializa-tion, international relations, and institutional factors into a unified, simplified production function, focusing on un-derstanding the sources of economic growth from the perspectives of total factor productivity and institutional dimen-sions. In summary, technological progress, division of labor and specialization, and favorable international rela-tions drive long-term economic growth by enhancing total factor productivity. Institutional improvements systemati-cally promote both total factor productivity and the capacity of production factors. For clarity, the model independ-ently analyzes the mechanisms of key variables, but in the process of achieving economic growth, factors such as technological progress, division of labor and specialization, international relations, and institutions are interconnec-ted and inseparable.
economic growthtechnological progressdivision of labor and specializationinternational relationsinstitutions
万方数据
维普
