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Using panel data the question whether Africa's growth performance can be accounted for is analysed in the framework of … the augmented Solow model. OLS levels results suggest that the model cannot fully account for Africa's low growth … estimation method we suggest the use of recently developed system generalized method of moments (GMM) estimator. Our system GMM …
Persistent link: https://www.econbiz.de/10014115562
We propose an innovation-driven growth model in which education is determined by family background and cognitive ability. We show that compulsory schooling can move a society from elite education to mass education, which then triggers market R&D. This means that our model rationalizes two...
Persistent link: https://www.econbiz.de/10013009852
For most of human history there existed a well-educated and innovative elite whereas mass education, market R&D, and high growth are phenomena of the modern period. In order to explain these phenomena we propose an innovation-driven growth model for the very long run in which the...
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Does a country's level of unemployment have an impact on the long-run growth rate? Incorporating unemployment into a generalised augmented Solow-type growth model, yields some answers to this question. In particular, we show that the impact of unemployment on productivity growth heavily depends...
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Does a country's level of unemployment have an impact on the long-run growth rate? Incorporating unemployment into a generalised augmented Solow-type growth model, yields some answers to this question. In particular, we show that the impact of unemployment on productivity growth heavily depends...
Persistent link: https://www.econbiz.de/10011325983
Does a country's level of unemployment have an impact on the long-run growth rate? Incorporating unemployment into a generalised Solow-type growth model yields some answers. In the traditional Solow model, unemployment has no long-run influence on the growth rate and the level of productivity....
Persistent link: https://www.econbiz.de/10011440805