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We test the history-augmented Solow model with respect to its predictions on the patterns of divergence and convergence between the nowadays industrialized countries of the OECD. We show that the dispersion of incomes increased after the Industrial Revolution, peaked during the Second World War,...
Persistent link: https://www.econbiz.de/10011671956
a strong positive casual relationship between manufacturing productivity growth and output growth, due to static and …, regardless of the specification and estimation techniques employed, suggest that the models can partly explain the developments … in the economy to a certain degree. -- Kaldor's Law ; Industrial Output ; Employment ; Productivity ; Growth …
Persistent link: https://www.econbiz.de/10003618427
heterogeneous panel vector-autoregression model identified through factor analysis, to study the dynamic response of exports …
Persistent link: https://www.econbiz.de/10010247921
technology and accounts for endogeneity as well as cross-section dependence in the panel. Our results imply that differences in … production technology are of crucial importance for understanding cross-country differences in labour productivity and their …
Persistent link: https://www.econbiz.de/10008752114
behavioral reactivity of the financial disruptions mentioned above. The model was estimated through the panel estimated … consists in the examination of the financial risks in the European Union and in the estimation of their impact on economic …
Persistent link: https://www.econbiz.de/10012124345
Based on a large panel of Czech manufacturing firms, we estimate firm-level production functions in 2003-2007 using the …, increasing returns cannot be rejected in some industries when the estimation is corrected for capital measurement error …
Persistent link: https://www.econbiz.de/10013111687
empirical model uses panel data on Chinese provinces. We identify a number of key technology shifters and their effect on … technical change and TFP growth of provinces. -- Technical change ; total factor productivity growth ; technology indicator …
Persistent link: https://www.econbiz.de/10003941555
In examining some big questions on African development, we provide evidence that dynamics of some development indicators could support both endogenous and neoclassical growth theories in the convergence debate. This paper investigates convergence in real per capita GDP and inequality adjusted...
Persistent link: https://www.econbiz.de/10011410273
-country panel VAR models. Most theoretical models state that these variables interact with one another and generate feedback … relationship among finance, growth, and inequality. We use the panel VAR models to reflect these interactive feedback dynamics. Our … estimation results suggest that the real GDP per capita decreases in response to financial deepening shock in private credit or …
Persistent link: https://www.econbiz.de/10012917898
The link between foreign aid and economic growth remains a controversial issue in the literature, and a large share of the disagreement could be explained by differences in the data employed. Using GDP data from three different versions of the Penn World Table and the World Development...
Persistent link: https://www.econbiz.de/10011375893