Lau, Sau-Him Paul; Sin, Chor-Yiu - In: The Economic Record 73 (1997) 221, pp. 125-35
The authors examine whether economic growth is generated endogenously or exogenously, and estimate the externality effects due to private and public capital respectively. Applying a multivariate stochastic cointegration method to U.S. data, they find that the evidence is unfavorable to the...