Question: Outline endogenous growth theory. Can it be used to explain the high rate of growth in newly industrialised Asian economies? (2,000 words)
— Definition of New Growth (endogenous) Theory, its characteristics (R&D, innovation and so on) and emphasis on Human Capital and other related aspects as engines of growth
— Discuss briefly on government role, externalities and necessities of protection in this model
— Choose some fast growing NIEs in Asia, discuss with some statistics and evidences of the growth
— Argue your case if you think the growth stories of chosen countries can be explained in the light of this theory.
— Conclusion: reinforcing your argument here by summarising them.
