The level and growth effects in the empirics of economic growth

Autor:	Rao, B. Bhaskara, Gounder, Rukmini
Rok vydání:	2007
Předmět:	jel:O30 jel:O54 Solow Growth Model Production Function Shift Variables Human Capital Level and Growth Effects jel:O15 jel:O47
Popis:	Mankiw, Romer and Weil (1992) have extended the Solow (1956) model by augmenting the production function with human capital. Its empirical success is impressive and it showed a procedure to improve the explanatory power of the neoclassical growth model. This paper suggests an empirical procedure to further extend the neoclassical growth model to distinguish between the growth and level effects of shift variables like the human capital. We use time series data from Guatemala to show that while the growth effects of education are small, they are significant and dominate the level effects.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=od_______645::cb09d15e1bdbb8b5a591e48f7646ba52 https://mpra.ub.uni-muenchen.de/1841/1/MPRA_paper_1841.pdf Zobrazit plný text záznamu