Estimates of the steady state growth rates for some European countries
AbstractThis paper estimates the steady state growth rates for the main European countries with an extended version of the Solow (1956) growth model. Total factor productivity is assumed a function of human capital, trade openness and investment ratio. We show that these factors, with some differences, have played an important role to improve the long run growth rates of Italy, Spain, France, UK, and Ireland. A few policies to improve the long-run growth rates for these countries are suggested.
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Bibliographic InfoArticle provided by Elsevier in its journal Economic Modelling.
Volume (Year): 29 (2012)
Issue (Month): 4 ()
Contact details of provider:
Web page: http://www.elsevier.com/locate/inca/30411
Extended Solow growth model; Trade openness; Human capital; Investment ratio; Steady state growth rate; European countries;
Find related papers by JEL classification:
- C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models &bull Diffusion Processes
- O52 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Europe
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
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