EVOLUTION OF PARADIGM OF ECONOMIC GROWTH: FROM TRADITIONAL THEORIES TO INCLUSIVE-ORIENTED GREEN GROWTH

Abstract

The article provides a comprehensive theoretical and methodological generalization of the genesis and evolution of economic growth paradigms, demonstrating their successive transformation from resource-productive and macroeconomic approaches to structural-transformational, innovation-driven, knowledge- and human-centered, and institutional-regulatory paradigms. Based on a critical analysis of classical, neoclassical, endogenous, and institutional theories, the fundamental contributions of different theoretical approaches to explaining the sources, determinants, and mechanisms of economic dynamics are systematized. The study establishes that the range of growth determinants has expanded significantly, shifting from capital and labor accumulation toward technological innovation, human capital quality, institutional development, productivity enhancement, and structural transformations of economic systems. The study shows that the evolution of economic thought has deepened understanding of the interdependence among economic resources, technological progress, institutional conditions, and long-term development outcomes. It is argued that the contemporary stage of economic development requires moving beyond exclusively quantitative production growth indicators toward a multidimensional understanding of economic progress that incorporates social and environmental outcomes. In this context, the emergence of a new paradigm of inclusively oriented green growth is supported by integrating economic efficiency, social justice, and environmental balance. Its conceptual significance lies in viewing economic growth not merely as an increase in production and national wealth, but as a means of enhancing societal well-being, expanding equal opportunities, ensuring a fair distribution of economic benefits, and preserving natural resources and development opportunities for future generations. The strategic importance of this paradigm for Ukraine is emphasized, as its theoretical and methodological provisions can provide a foundation for developing effective mechanisms of post-war recovery, structural modernization of the national economy, and restoration of its competitive position in the global economic environment.