a more recent endogenous growth theory provides a different explanation of economic growth. An important contribution to this theory was provided by Romer, Lucas, and Grossman and Helpman et al. According to this theory, economic growth is determined by the accumulation of knowledge. While in the
neoclassical economic growth theory knowledge is viewed as a public good the endogenous growth theory recognizes knowledge that is treated as a market good. This is the kind of knowledge that creates competitive advantages.