System Dynamics Modeling for the Generic Structure of Economic Growth and the Sustainable Endogenous Growth Theory

경제성장에 대한 본원적 구조와 지속가능 내생적 성장이론에 대한 시스템 다이내믹스 모델링

This paper revisited the key advances on System Dynamics modeling about traditional macro-economic models and economic growth structures, and then tries to elaborate a new model based on the endogenous growth theory that incorporates new growth factors, relevant to knowledge/technology as well as the Environment, into traditional growth models. Accordingly, the new model augments the acceleration and multiplier loops and the balancing ones representing market clearing mechanism with a simple numerical example. The authors thus provides macroeconomic System Dynamics analysts with a milestone to model macro-economic structures reflecting on traditional and cutting-edge theories on sustainable economic growth and general equilibrium modeling.