Economic Growth in a Cross Section of Countries
Reads0
Chats0
TLDR
For 98 countries in the period 1960-1985, the growth rate of real per capita GDP is positively related to initial human capital (proxied by 1960 school-enrollment rates) and negatively related to the initial (1960) level as mentioned in this paper.Abstract:
For 98 countries in the period 1960–1985, the growth rate of real per capita GDP is positively related to initial human capital (proxied by 1960 school-enrollment rates) and negatively related to the initial (1960) level of real per capita GDP. Countries with higher human capital also have lower fertility rates and higher ratios of physical investment to GDP. Growth is inversely related to the share of government consumption in GDP, but insignificantly related to the share of public investment. Growth rates are positively related to measures of political stability and inversely related to a proxy for market distortions.read more
Citations
More filters
Journal ArticleDOI
Creating a Legal Framework for Economic Development
TL;DR: For example, Posner as discussed by the authors argued that a small expenditure on law reform can increase the rate of economic growth, in turn generating resources that will enable more ambitious legal reforms to be undertaken in the future.
Journal ArticleDOI
The Effect of Religion on Economic Development: A Cross National Study of 63 Former Colonies
TL;DR: In this paper, the authors test whether Protestantism is positively related to economic growth and development and whether religion can help to explain why Spanish ex-colonies perform markedly worse than their British counterparts.
Journal ArticleDOI
Policy Volatility, Institutions, and Economic Growth
Antonio Fatás,Ilian Mihov +1 more
TL;DR: This paper showed that a 1 standard deviation increase in policy volatility reduces long-term economic growth by about 0.74% in the panel regressions and by more than 1 percentage point in the cross-section.
Posted Content
Is inequality harmful for growth? Comment
TL;DR: The relationship between economic growth and income inequality was explored in this article, where the authors employed data from a panel of US states to further explore the relationship between income growth and inequality and found that greater US income inequality since the early 1970's may have resulted in lower subsequent economic growth.
Journal ArticleDOI
Financial development and economic growth: Convergence or divergence?
TL;DR: In this paper, the authors test for convergence in financial development and economic growth by incorporating the interaction between the real and financial sectors into an otherwise traditional test for the convergence of convergence.
References
More filters
Journal ArticleDOI
A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity
TL;DR: In this article, a parameter covariance matrix estimator which is consistent even when the disturbances of a linear regression model are heteroskedastic is presented, which does not depend on a formal model of the structure of the heteroSkewedness.
Journal ArticleDOI
A Contribution to the Theory of Economic Growth
TL;DR: In this paper, a model of long run growth is proposed and examples of possible growth patterns are given. But the model does not consider the long run of the economy and does not take into account the characteristics of interest and wage rates.
Book ChapterDOI
Investment in humans, technological diffusion and economic growth
TL;DR: Most economic theorists have embraced the principle that education enhances one's ability to receive, decode, and understand information, and that information processing and interpretation is important for performing or learning to perform many jobs as discussed by the authors.
Journal ArticleDOI
The Purchasing-Power Parity Doctrine: A Reappraisal
TL;DR: The purchasing power parity (HIE) doctrine has had its ebbs and flows I over the years as mentioned in this paper and it has also had its critics, among others Taussig after World War J4 and Haberler after WWIJ,5 but it has managed to survive nevertheless.
Posted Content
Long Run Policy Analysis and Long Run Growth
TL;DR: In this paper, the authors describe a class of models in which this type of heterogeneity in growth experiences can arise as a result of cross-country differences in government policy, which can also create incentives for labor migration from slow growing to fast growing countries.