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Capital deepening
About: Capital deepening is a research topic. Over the lifetime, 5203 publications have been published within this topic receiving 230297 citations.
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TL;DR: This article examined the Cobb-Douglas production function specifications for a 30-year panel of 83 countries representing all regions of the world and all income groups, finding significant differences in production technology.
Abstract: Do openness and human capital accumulation promote economic growth? While intuition argues yes, the existing empirical evidence provides mixed support for such assertions. We examine Cobb-Douglas production function specifications for a 30-year panel of 83 countries representing all regions of the world and all income groups. We estimate and compare labor and capital elasticities of output per worker across each of several income and geographic groups, finding significant differences in production technology. Then we estimate the total factor productivity series for each classification. Using determinants of total factor productivity that include, among many others, human capital, openness, and distortion of domestic prices relative to world prices, we find significant differences in results between the overall sample and sub-samples of countries. In particular, a policy of outward orientation may or may not promote growth in specific country groups, even if geared to reducing price distortion and increasing openness. Human capital plays a smaller role in enhancing growth through total factor productivity. JEL Code: F43, O47
38 citations
TL;DR: In this article, the authors address the question of whether there is a long run relationship between infrastructure and private capital productivity of Greek industry and provide evidence in favour of productivity enhanced by public capital stock, and of no feedback from the former to the latter.
Abstract: This paper addresses the question of whether there is a long run relationship between infrastructure and private capital productivity of Greek industry. Causality issues are also discussed. The results provide evidence in favour of productivity enhanced by public capital stock, and of no feedback from the former to the later.
38 citations
01 Jan 2012
TL;DR: In this paper, the authors examined the role of human capital formation in economic growth in Pakistan by using the secondary data for the period of 197273 to 2010-11 and concluded that education enrollment index, gross fixed capital formation and Gini coefficient have positive and significant impact on gross domestic product.
Abstract: This study examines the role of human capital formation in economic growth in Pakistan by using the secondary data for the period of 197273 to 2010-11. The results implied that education enrollment (proxy for human capital), health and physical capital are important to boost the economic growth in Pakistan. Human capital, fixed capital and employed labor force affect the GDP and result in unidirectional and non-unidirectional causality. After estimating the model, we concluded that education enrollment index, gross fixed capital formation and Gini coefficient have positive and significant impact on gross domestic product, while head count ratio, infant mortality rate, CPI inflation and investment growth rate have negative and significant impact on gross domestic product in Pakistan.
38 citations
TL;DR: In this article, the coordination problem among countries imposing controls on capital inflows was studied and it was shown that inflow restrictions distort international capital flows to other countries and that, in turn, such capital flow deflection may lead to a policy response.
38 citations
TL;DR: In this paper, the authors examined the resource allocational and welfare effects of exogenous inflows of foreign capital in a general-equilibrium model with oligopolistic competition and unemployment.
38 citations