The Relevance of Productive Experience in the Process of Economic Growth: an Empirical Study
AbstractThe purpose of this study is to analyse the effects of productive experience in the process of economic growth. To do this, we estimate an augmented version of the Solow growth model where we include a measure called centrality among the set of usual explanatory variables. This variable summarizes the overall usefulness of a country’s productive experience and it is computed as in Freitas and Salvado (2009), following Hausmann and Klinger (2007). In general, we failed to find a robust relationship between centrality and subsequent growth. This result casts doubts on the usefulness of the centrality measure in the prediction of economic growth.
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Bibliographic InfoPaper provided by Gabinete de Estratégia e Estudos, Ministério da Economia e da Inovação in its series GEE Papers with number 0014.
Length: 25 pages
Date of creation: Mar 2009
Date of revision: Mar 2009
Economic Growth; Productive Experience; Structural Transformation.;
Find related papers by JEL classification:
- C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
- O14 - Economic Development, Technological Change, and Growth - - Economic Development - - - Industrialization; Manufacturing and Service Industries; Choice of Technology
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