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Testing the Neoclassical Theory of Economic Growth

1992-12-01 Business & Economics
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Release : 1992-12-01
Genre : Business & Economics
Kind : eBook
Book Rating : 054/5 ( reviews)

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Book Synopsis Testing the Neoclassical Theory of Economic Growth by : Delano Villanueva

Download or read book Testing the Neoclassical Theory of Economic Growth written by Delano Villanueva. This book was released on 1992-12-01. Available in PDF, EPUB and Kindle. Book excerpt: Several recent empirical studies have examined determinants of economic growth using country average (cross-section) data. In contrast, this paper employs a technique for using a panel of both cross-section and time-series data for 98 industrial and developing countries over 1960-85 to determine the quantitative importance for economic growth of both country-specific and time-varying factors such as human capital, public investment, and outward-oriented trade policies. The empirical results provide support for the view that these factors exert a positive and significant influence on economic growth. They also provide estimates of the speed at which the gap in real per capita income between rich and poor countries is likely to be reduced over the longer term.

Testing the Neoclassical Theory of Economic Growth

1992
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Release : 1992
Genre :
Kind : eBook
Book Rating : /5 ( reviews)

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Book Synopsis Testing the Neoclassical Theory of Economic Growth by : Malcolm Donald Knight

Download or read book Testing the Neoclassical Theory of Economic Growth written by Malcolm Donald Knight. This book was released on 1992. Available in PDF, EPUB and Kindle. Book excerpt:

Why Are Some Countries Richer Than Others?

2008-10 Business & Economics
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Release : 2008-10
Genre : Business & Economics
Kind : eBook
Book Rating : 65X/5 ( reviews)

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Book Synopsis Why Are Some Countries Richer Than Others? by : Jesus Felipe

Download or read book Why Are Some Countries Richer Than Others? written by Jesus Felipe. This book was released on 2008-10. Available in PDF, EPUB and Kindle. Book excerpt: Provides evidence of a problem with the influential testing and assessment of Solow¿s (1956) growth model proposed by Mankiw et al. (1992) and a series of papers evaluating the latter. First, the assumption of a common rate of technical progress maintained by Mankiw et al. (1992) is relaxed. Solow¿s model is extended to include the different levels and rates of technical progress of each country. This increases the explanatory power of the cross-country variation in income/capital of the OECD countries to over 80%. The estimates of the parameters are statistically significant and take the expected values and signs. Second, the estimates merely reflect a statistical artifact. This has serious implications for the possibility of actually testing Solow¿s growth model. Illus.

Classical, Neoclassical and Keynesian Views on Growth and Distribution

2006-01-27 Business & Economics
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Release : 2006-01-27
Genre : Business & Economics
Kind : eBook
Book Rating : 089/5 ( reviews)

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Book Synopsis Classical, Neoclassical and Keynesian Views on Growth and Distribution by : Neri Salvadori

Download or read book Classical, Neoclassical and Keynesian Views on Growth and Distribution written by Neri Salvadori. This book was released on 2006-01-27. Available in PDF, EPUB and Kindle. Book excerpt: This book reconsiders and analyses the different approaches historically proposed in the literature on growth and distribution. The contributors have achieved, through a comprehensive and cohesive analysis of the approaches of different schools of thought, a wide-ranging interpretation of a variety of important economic phenomena. The book identifies elements characterising each approach and tries to derive from them a range of insights into the complexity of the growth process.

Neoclassical Theory Structure and Theory Development

2012-12-06 Business & Economics
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Release : 2012-12-06
Genre : Business & Economics
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Book Rating : 490/5 ( reviews)

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Book Synopsis Neoclassical Theory Structure and Theory Development by : B. Hamminga

Download or read book Neoclassical Theory Structure and Theory Development written by B. Hamminga. This book was released on 2012-12-06. Available in PDF, EPUB and Kindle. Book excerpt: There are quite a lot of recent books on the methodology of economics, but all proceed from one or more of the following three fundamental assumptions: 1) Meta-apriorism: it is a priori believed that the results of the philosophy of science of the past decades, associated with the names of Popper, Kuhn and Lakatos, yield conceptual frameworks that can be used to describe the product of the economist's endeavours. 2) Synchronism: it is believed that the inspection of a "theory" of economics, the presentation of some economic belief at a point in time, reveals its logical structure and ipso facto the "method" by which the "theory" is constructed. 3) CreduZity: it is believed that what economists themselves say on their own methods is true, or at least of primary relevance. In this book, I endeavour to show that these assumptions are false. First, the philosophies of science by Popper, Kuhn and Lakatos did not succeed in constructing a conceptual framework capable of describing theory development in economics. Secondly, this can only be seen as soon as not Zogic but history is taken to be the referee judging the adequacy of metatheories (diachronism). Thirdly the results of metaempiricaZ (not-meta-aprioristic), diachronic (not-synchronic) research reveals that even economists themselves turn out frequently to have inadequate metatheories upon which it is dangerous to rely (suspicion instead of credulity) .

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