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The level and growth effects in the empirics of economic growth: some results with data from Guatemala

Rao, Bhaskara B. and Gounder, R. and Leoning, J. (2010) The level and growth effects in the empirics of economic growth: some results with data from Guatemala. Applied Economics, 42 (16). pp. 2099-2109. ISSN 0003-6846

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Abstract

Mankiw et al. (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 article 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.

Item Type: Journal Article
Subjects: H Social Sciences > HD Industries. Land use. Labor
Divisions: Faculty of Business and Economics (FBE) > School of Economics
Depositing User: Ms Shalni Sanjana
Date Deposited: 16 May 2010 20:38
Last Modified: 17 Jul 2012 20:02
URI: http://repository.usp.ac.fj/id/eprint/4597
UNSPECIFIED

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