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The OECD 1951-88 Growth Experience Revisited

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Author Info
Canton, E. (Tilburg University, Faculty of Economics and Business Administration)

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Abstract

This paper presents panel data evidence on an investment driven growth process for 16 OECD countries over the 1951-88 period, as it is predicted by new growth theory. Investments are hypothesized to depend on demand factors, human capital, and trade union power. The two-equation regression model appears to replicate the data in a satisfactorily way. In the search for the ultimate factors behind economic growth, this two-step approach seems more appropriate than a purely eclectic one.

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Paper provided by Tilburg University, Faculty of Economics and Business Administration in its series Research Memorandum with number 674.

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Date of creation: 1994
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Handle: RePEc:dgr:kubrem:1994674

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Web page: http://cwis.uvt.nl/~few/few2/

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  2. Solow, Robert M, 1994. "Perspectives on Growth Theory," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 45-54, Winter. [Downloadable!] (restricted)
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  4. King, Robert G & Rebelo, Sergio T, 1993. "Transitional Dynamics and Economic Growth in the Neoclassical Model," American Economic Review, American Economic Association, vol. 83(4), pages 908-31, September. [Downloadable!] (restricted)
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  5. Bean, Charles R, 1994. "European Unemployment: A Survey," Journal of Economic Literature, American Economic Association, vol. 32(2), pages 573-619, June. [Downloadable!] (restricted)
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  6. Pack, Howard, 1994. "Endogenous Growth Theory: Intellectual Appeal and Empirical Shortcomings," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 55-72, Winter. [Downloadable!] (restricted)
  7. Baumol, William J, 1986. "Productivity Growth, Convergence, and Welfare: What the Long-run Data Show," American Economic Review, American Economic Association, vol. 76(5), pages 1072-85, December. [Downloadable!] (restricted)
  8. Moene, K.O. & Wallerstein, M., 1992. "The Decline of Social Democracy," Memorandum 21/1992, Oslo University, Department of Economics.
  9. Robert J. Barro, 1991. "Economic Growth in a Cross Section of Countries," NBER Working Papers 3120, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  10. van de Klundert, Theo C N J & van Schaik, Anton, 1993. "On the Historical Continuity of the Process of Economic Growth," CEPR Discussion Papers 850, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  11. Fare, Rolf & Shawna Grosskopf & Mary Norris & Zhongyang Zhang, 1994. "Productivity Growth, Technical Progress, and Efficiency Change in Industrialized Countries," American Economic Review, American Economic Association, vol. 84(1), pages 66-83, March. [Downloadable!] (restricted)
  12. Mankiw, N Gregory & Romer, David & Weil, David N, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, MIT Press, vol. 107(2), pages 407-37, May. [Downloadable!] (restricted)
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  13. Stern, Nicholas, 1991. "The Determinants of Growth," Economic Journal, Royal Economic Society, vol. 101(404), pages 122-33, January. [Downloadable!] (restricted)
  14. Maddison, Angus, 1992. " A Long-Run Perspective on Saving," Scandinavian Journal of Economics, Blackwell Publishing, vol. 94(2), pages 181-96.
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  15. Levine, Ross & Renelt, David, 1992. "A Sensitivity Analysis of Cross-Country Growth Regressions," American Economic Review, American Economic Association, vol. 82(4), pages 942-63, September. [Downloadable!] (restricted)
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  16. Van de Klundert, T. & Smulders, S., 1991. "Recontructing Growth Theory : A Survey," Papers 9146, Tilburg - Center for Economic Research.
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