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The Role of Production Progress and Human Capital in the Economic Growth of Latvia

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  • Aleksejs Melihovs
  • Gundars Davidsons

Abstract

The paper sets a goal to assess the significance of production progress and human capital for the Latvian economy and to estimate long-term growth rates of the country's economic development. The authors made an attempt to construct a production function using non-linear modelling. In order to improve the production function model for Latvia, the authors augmented the model by human capital approximation.

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Bibliographic Info

Paper provided by Latvijas Banka in its series Working Papers with number 2006/03.

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Date of creation: 18 Dec 2006
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Handle: RePEc:ltv:wpaper:200603

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Related research

Keywords: production function; non-linear modelling; human capital; total factor productivity;

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References

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  19. repec:fth:bfdipa:20/2001 is not listed on IDEAS
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  21. MacKinnon, James G, 1996. "Numerical Distribution Functions for Unit Root and Cointegration Tests," Journal of Applied Econometrics, John Wiley & Sons, Ltd., John Wiley & Sons, Ltd., vol. 11(6), pages 601-18, Nov.-Dec..
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Citations

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Cited by:
  1. Краснопёров, Олег, 2012. "Оценка Производственной Функции В Условиях Неопределённости Динамики Физического Капитала
    [Assessing the production function under the uncertainty of dynamics of the fixed capital]
    ," MPRA Paper 47555, University Library of Munich, Germany.
  2. Ludmila Fadejeva & Aleksejs Melihovs, 2010. "Measuring Total Factor Productivity and Variable Factor Utilization," Eastern European Economics, M.E. Sharpe, Inc., M.E. Sharpe, Inc., vol. 48(5), pages 63-101, September.
  3. Krasnopjorovs, Olegs, 2012. "Measuring the sources of economic growth in the EU with parametric and non-parametric methods," MPRA Paper 47583, University Library of Munich, Germany.

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