The solow model in the empirics of growth and trade erich gundlach kiel institute for the world economy, germany revised, january 2007 paper presented at the aea annual meeting in boston, 68 january 2006. Consequently, policy makers requiring advice on how to improve na. A contribution to the empirics of economic growth mankiw et. A contribution to the empirics of economic growth econpapers. Suppose, for example, that an advance in production methods makes the efficiency of labor e double between 1980 and 2010. Were the magnitudes of the key parameters the savings ratio, the capitaloutput ratio, the rate of increase of the. Pdf a contribution to the empirics of economic growth.
Evidence from the cities, journal of urban economics, 34, 1993, pp. A romerian contribution to the empirics of economic growth. An update the past decade hasseen an explosion of empirical research on economic growth and its determinants, yet many of the central issues of inter. It shows that an augmented solow model that includes accumulation of human as well as physical capital provides an excellent description of the crosscountry data.
Productivity gains from the geographic concentration of human capital. A contribution to the empirics of economic growth mankiw romer and weil 45 from econ 307 at wilfrid laurier university. A contribution to the empirics of economic growth n. As an economy converges to the steady state the interest rate falls. A contribution to the empirics of economic growth abstract this paper examines whether the solow growth model is consistent with the international variation in the standard of living. This paper that have been summarized examines whether the solow growth model is consistent with the international variation in the standard of living. It argues that much of the modern empirical growth literature is based on assumptions about regressors, residuals, and parameters that are implausible from the perspective of both. It shows that an augmented solow model that includes accumulation of. Empirics for economic growth and convergence sciencedirect. The aim of this course is to familiarize you with the mechanics of growth models, and we anticipate that several of the models will provide knowledge spillovers into other courses you take here. Mankiw ng, romer d, weil dn 1992 a contribution to the empirics of economic growth. It is a compilation of lecture notes used in facetoface and elearning courses presented by the world bank institutes wbi poverty program during.
Production efficiency and free trade since adam smith, economists have argued that free trade can increase production efficiency and living standards. The importance of human capital for the economic development of eu regions. Weil, a contribution to the empirics of economic growth, the quarterly journal of economics, volume 107, issue 2, may 1992, pages 407437. Empirics for economic growth and convergence in asian economies. Weil this paper examines whether the solow growth model is consistent with the international variation in the standard of living. A contribution to the empirics of harvard university. A contribution to the empirics of economic growth, nber working papers 3541, national bureau of economic research, inc. Citeseerx a contribution to the empirics of economic growth.
It shows that an augmented solow model that includes accumulation of human as well as physical capital provides an excellent description. That is, even if the actual number of workers l stays the same from 1980 to. No 3541, nber working papers from national bureau of economic research, inc abstract. Average annual growth rates, 197089 open closed growth empirics. A contribution to the empirics of economic growth mankiw, romer and weil 1992 abstract.
A contribution to the schumpeterian growth theory and. As yet, however, there are few widely agreedon results. This paper tests the null hypothesis of endogenous growth theories which predict cross country differences in trend growth rates against the alternative hypothesis of exogenous growth theories which predict the same trend growth rates. A contribution to the theory of economic growth robert m. Pdf a contribution to economic growth researchgate. One might expect that, despite the unifying influences of the european union, na. Since the late 1980s, economists have done extensive work on the determinants of economic growth. Some new findings, abstract this paper presents, using a new measure of human capital, robust results to show that in both the augmented and fully extended solow model with conditional convergence, human capital plays a significant role in explaining economic growth among the oecd. Empirics for economic growth and convergence in asian. The solow model in the empirics of growth and trade. If factor input markets are competitive and f fully describes the contribution. A contribution to the schumpeterian growth theory and empirics cem ertury wilfried koch z revise and resubmit to the journal of economic growth abstract this paper proposes an integrated theoretical and methodological framework characterized by technological interactions to explain growth processes from a schumpeterian perspective. The new empirics of economic growth amazon web services.
This article questions current empirical practice in the study of growth. There are arguably few topics in current global economic policy as intensely debated as the impact of different facets of globalization on human development. The empirics of economic growth article pdf available in quarterly journal of economics 107. The impact of taxation is integrated into growth models by its impact on the individual growth variables, which are capital accumulation and investment, human. Contribution to the empirics of economic growth the. Citations of a contribution to the empirics of economic growth. A contribution to the empirics of economic growth this paper examines whether the solow growth model is consistent with the international variation in the standard of living. The evidence indicates that, holding population growth and capital accumulation constant, countries converge at about the rate the augmented solow model. The role of knowledge and capital in economic growth. A contribution to the empirics of w elfare growth 23 w eil, d. Given that the concept of globalization reflects a multitude of economic and societal transformations, the scope of these discussions needs to be equally nuanced.
Quah lse economics department, cep, and cepr, lxmdon, uk received 15 december 1093. Spatial perspectives on new theories of economic growth core. Copy of a contribution to the empirics of economic growth. The aim of this paper is to evaluate the impact of individual types of taxes on the economic growth by utilizing regression analysis on the oecd countries for the period of 20002011. In 1956, robert solow created a model to predict steadystate income levels based on the contribution. What have we learned from a decade of empirical research. A contribution to the empirics of economic growth nber. A contribution to the theory and empirics of schumpeterian. A contribution to the theory of economic growth authors.
It shows that an augmented solow model that includes accumulation of human as well as physical. The lack of consensus is unfortunate because increasing the growth rates of the worlds many poor countries is a primary global policy goal. This paper proposes an integrated theoretical and methodological framework characterized by technological interactions to explain growth processes from a schumpeterian perspective. It argues that much of the modern empirical growth literature is based on assumptions about regressors, residuals, and parameters that are implausible from the perspective of both economic theory and the historical experiences of the countries under study. A new wave of interest in longrun economic growth emerged since the late. Collins 30703 over the past decade, there has been an explosion of empirical research on economic growth and its determinants. This volume is an introduction to the theories and policies that affect economic growth and poverty.
By continuing to use our website, you are agreeing to our use of cookies. This means that a single worker in 2010 is, in effect,as productive as two workers were in 1980. A contribution to the empirics of economic growth 1992 cached. A contribution to the empirics of economic growth,quarterly journal of economics, 107, 1992, pp. A contribution to the empirics of economic growth mankiw. Growth empirics and reality english the world bank. Economic growth and liquidation of natural capital land economics. Pdf a contribution to the empirics of welfare growth. The empirics of economic growth for oecd countries. Weil, title a contribution to the empirics of economic growth, journal quarterly. A further augmentation of the solow model and the empirics of economic growth for oecd. Further augmentation of the solow model and the empirics. At an easily calculable point of time tj, r reaches a.
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