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Can government policies increase national long-run growth rates?

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  • Robertson, Peter

    (Univerity of New South Wales)

  • John S Landon-Lane

Abstract

We obtain time series estimates of the long run growth rates of 17 OECD countries, and test the hypothesis that these are the same across countries. We find that we cannot reject this hypothesis for the first and last three decades of the 20th century. We conclude that: (i) there are few, if any, feasible policies available that have a significant effect on long run growth rates, and; (ii) any policies that can raise national growth rates must be international in scope. The results therefore have bleak implications for the ability of countries to affect their long run growth rates.

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Bibliographic Info

Paper provided by Royal Economic Society in its series Royal Economic Society Annual Conference 2003 with number 175.

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Date of creation: 04 Jun 2003
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Handle: RePEc:ecj:ac2003:175

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Keywords: economic policy; technological change; convergence; economic growth;

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Cited by:
  1. Michael Clemens, 2004. "The Long Walk to School: International Education Goals in Historical Perspective," Working Papers 37, Center for Global Development.

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