HARROD – DOMAR ECONOMIC GROWTH MODEL IN CLASSICAL AND NEOCLASSICAL THEORY

Abstract

ntroduction: The goals of this article is to present some theoretical aspects of the Harrod-Domar economic growth model in classical and neoclassical theory, highlighting its importance on the economy of nations. The research is based on the revision of the specialized economic literature using the method of scientific observation. The HarrodDomar model is approached in a context that aims to understand it and how it relates to other factors in the economic environment. The central elements of the Harrod-Domar theory and model are represented by the process of saving and investing, which will lead to an economic growth of nations.

Keywords

• economic growth
• investments
• theoretical models of economic growth.