Showing 1 - 10 of 104
Existing evidence for unconditional convergence in the OECD is mixed, and depends largely on whether time series or … cross sectional methods are used. In this paper we reconsider the evidence for unconditional convergence by dividing the … long-run growth in output to test for unconditional convergence and to test for equality of long-run growth across …
Persistent link: https://www.econbiz.de/10005130215
This paper tackles the problem of aggregate TFP measurement using stochastic frontier analysis (SFA). Data from Penn World Table 6.1 are used to estimate a world production frontier for a sample of 75 countries over a long period (1950-2000) taking advantage of the model offered by Battese &...
Persistent link: https://www.econbiz.de/10005699603
We argue that cross-country convergence of output per capita should be examined in a fractional-integration time …-run convergence and fractional catching-up. The starting point of the paper is: since there are reasons to believe that aggregate … techniques is too restrictive and may lead to spurious results. We then propose a new classification of output convergence …
Persistent link: https://www.econbiz.de/10005702532
This study investigates the relationship between the measured Solow residual and demand side variables for the Korean economy. The measured Solow residuals are shown to be Granger-caused by some demand side variables such as exports, M1, and government expenditure. A vector error correction...
Persistent link: https://www.econbiz.de/10005702722
Recent economic growth theory has suggested that wealth differences across nations must be due, at least in part, to the failure in many places to adopt existing production techniques. There are many potential reasons for the failure to adopt existing technology, including the political clout of...
Persistent link: https://www.econbiz.de/10005328939
Based on a theoretical consideration of human capital production technology, this study empirically investigates the growth implication of dispersion of population distribution in terms of educational attainment levels. Based on a pooled 5-year interval time-series data set of 94 developed and...
Persistent link: https://www.econbiz.de/10005342367
We propose a general non-linear simultaneous equations framework for the econometric analysis of models of intervention in foreign exchange markets by central banks in response to deviations of exchange rates from possibly time-varying target levels. We consider efficient estimation of possibly...
Persistent link: https://www.econbiz.de/10005063625
The paper analyses how barriers to communication across social groups affect economy-wide productivity and factor accumulation. Using a dynamic model of an economy that includes a reproducible capital stock (physical or human) and effective labour, social barriers to communication are shown to...
Persistent link: https://www.econbiz.de/10005063628
Human capital plays an important role in the theory of economic growth, but it has been difficult to measure this abstract concept. We survey the psychological literature on cross-cultural IQ tests, and conclude that modern intelligence tests are well-suited for measuring an important form of a...
Persistent link: https://www.econbiz.de/10005328888
One of the important public policy issues in science and technology is to ascertain if and how firms' investments in research and development (R&D) contribute to technical progress at firm and industry levels. Griliches (1979) made a pioneering contribution to our understanding of economic...
Persistent link: https://www.econbiz.de/10005702740