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In an 80-country panel since the 1960s, the convergence rate for per capita GDP is around 1.7% per year. This "beta … "iron-law" rate of 2%. In the post-1960s panel, estimation without country fixed effects supports the modernization … long-term panel with country fixed effects also supports modernization, in the sense of positive effects of per capita GDP …
Persistent link: https://www.econbiz.de/10012460366
Growth accounting breaks down economic growth into components associated with changes in factor inputs and the Solow residual, which reflects technological progress and other elements. This exercise is generally viewed as a preliminary step for the analysis of fundamental determinants of growth...
Persistent link: https://www.econbiz.de/10012472156
Empirical findings for a panel of around 100 countries from 1960 to 1990 strongly support the general notion of …
Persistent link: https://www.econbiz.de/10012473140