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Growth and relative living standards - testing Barriers to Riches on post-war panel data

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Author Info
Minford, Patrick () (Cardiff Business School)
Meenagh, David () (Cardiff Business School)
Wang, Jiang

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Abstract

The effect of business tax and regulation on growth, together with potential effects of government spending on education and R&D, is embodied in a model of a small open economy with growth choices. The structural model is estimated on post-war panel data for 76 countries and the bootstrap is used to produce the model's sampling variation for the analysis of panel regressions of growth. Statistical rejection can occur at either the structural or the growth regression stage. The models featuring government spending on education and R&D are rejected while that with business taxation is accepted.

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File URL: http://www.cardiff.ac.uk/carbs/econ/workingpapers/papers/E2007_12.pdf
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Publisher Info
Paper provided by Cardiff University, Cardiff Business School, Economics Section in its series Cardiff Economics Working Papers with number E2007/12.

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Length: 40 pages
Date of creation: Apr 2007
Date of revision:
Handle: RePEc:cdf:wpaper:2007/12

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Related research
Keywords: growth; living standards; business regulation; business taxation; public education; government R&D; structural model; bootstrap testing;

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Find related papers by JEL classification:
O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation and Testing

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