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Growth in OECD countries and elsewhere: how much do education and R&D explain?

Author

Listed:
  • Katarina R. I. Keller

    (Susquehanna University)

  • Panu Poutvaara

    (Centre for Economic and Business Research, Copenhagen Business School)

Abstract

We find that the Nonneman and Vanhoudt (1996) extension to include R&D in the Mankiw, Romer and Weil (1992) growth model with human capital performs well also outside of OECD countries. It explains 61 to 86 percent of cross-country variation in income and growth over 40 years, explanatory variables being of expected sign for all country groups and significant in most cases. We test for the role of adding control variables and excluding outliers.

Suggested Citation

  • Katarina R. I. Keller & Panu Poutvaara, 2005. "Growth in OECD countries and elsewhere: how much do education and R&D explain?," Economics Bulletin, AccessEcon, vol. 15(16), pages 1-11.
    • Handle: RePEc:ebl:ecbull:eb-05o00001
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    References listed on IDEAS

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    Cited by:

    1. Katarina Keller, 2006. "Education Expansion, Expenditures per Student and the Effects on Growth in Asia," Global Economic Review, Taylor & Francis Journals, vol. 35(1), pages 21-42.
    2. Ý. Hakan Yetkiner, 2012. "Defense Spending and Economic Growth:A Theoretical Manifestation for Empirical Studies," Working Papers 1202, Izmir University of Economics.
    3. Bayraktar-Sağlam, Bahar & Yetkiner, Hakan, 2014. "A Romerian contribution to the empirics of economic growth," Journal of Policy Modeling, Elsevier, vol. 36(2), pages 257-272.
    4. Katarina Keller & Panu Poutvaara & Andreas Wagener, 2009. "Military Draft And Economic Growth In Oecd Countries," Defence and Peace Economics, Taylor & Francis Journals, vol. 20(5), pages 373-393, October.
    5. Katarina R. I. Keller, 2006. "Investment In Primary, Secondary, And Higher Education And The Effects On Economic Growth," Contemporary Economic Policy, Western Economic Association International, vol. 24(1), pages 18-34, January.
    6. Deeken, Tim, 2015. "Schumpeterian growth with technological interdependence: An application to US states," Working Paper Series in Economics 75, Karlsruhe Institute of Technology (KIT), Department of Economics and Management.

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    More about this item

    Keywords

    augmented Solow model;

    JEL classification:

    • O0 - Economic Development, Innovation, Technological Change, and Growth - - General
    • I2 - Health, Education, and Welfare - - Education

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