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The Solow Model in the Empirics of Cross-Country Growth

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Erich Gundlach

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Abstract

Translated to a cross-country context, the Solow model (Solow 1956) would predict that international differences in steady state output per person are due to international differences in technology such that the capital output ratio is constant for international differences in steady state capital intensities. Most of the cross-country growth literature that refers to the Solow model has employed a specification where steady state differences in output per person are due to international differences in the capital output ratio for a constant level of technology. My empirical results show that the cross-country data can also be summarized by an alternative empirical specification of the Solow model that uses a measure of institutional technology as an explanatory variable and treats the capital output ratio as part of the regression constant. The steady state implications of the Solow model with regard to international technology differences also appear to matter for empirical studies of trade. In contrast to Hicks neutral technology differences, Harrod neutral technology differences may explain why countries have different factor intensities and end up in different cones of specialization.

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Paper provided by DEGIT, Dynamics, Economic Growth, and International Trade in its series DEGIT Conference Papers with number c011_015.

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Length: 32 pages
Date of creation: Jun 2006
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Handle: RePEc:deg:conpap:c011_015

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  3. Erich Gundlach, 2005. "Solow vs. Solow: Notes on Identification and Interpretation in the Empirics of Growth and Development," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 141(3), pages 541-556, October. [Downloadable!] (restricted)
  4. Topel, Robert, 1999. "Labor markets and economic growth," Handbook of Labor Economics, in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 44, pages 2943-2984 Elsevier. [Downloadable!] (restricted)
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  6. Peter K. Schott, 2003. "One Size Fits All? Heckscher-Ohlin Specialization in Global Production," American Economic Review, American Economic Association, vol. 93(3), pages 686-708, June. [Downloadable!]
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  19. Jeffrey D. Sachs, 2003. "Institutions Don't Rule: Direct Effects of Geography on Per Capita Income," NBER Working Papers 9490, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  1. McQuinn, Kieran & Whelan, Karl, 2007. "Solow (1956) as a Model of Cross-Country Growth Dynamics," MPRA Paper 5892, University Library of Munich, Germany. [Downloadable!]
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  2. Pyyhtiä, Ilmo, 2007. "Why is Europe lagging behind?," Research Discussion Papers 3/2007, Bank of Finland. [Downloadable!]
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