The modeling of the economic development on the basis of an extended Solow-Swan growth model with the inclusion of spatial aspect
AbstractThe objective of the article is to identify and evaluate spatial relations in terms of economic determinants for the regions of Central and Eastern European countries (in accordance with Eurostat methodology NUTS-2 stands for the corresponding level) having applied the construction of an augmented, neoclassical Mankiw-Romer-Weil growth model. The study covered the period of three years: 2000, 2005 and 2010. The obtained results confirmed the significance of spatial relations, in the evaluation of relations combining growth factors, for the level of economic growth. The statistically significant impact, however, was observed only in case of the factor illustrating human capital.
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Bibliographic InfoPaper provided by Institute of Economic Research in its series Working Papers with number 12/2014.
Date of creation: Mar 2014
Date of revision: May 2014
augmented Mankiw-Romer-Weil growth model; spatial econometrics; Central and Eastern European regions;
Find related papers by JEL classification:
- C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes
This paper has been announced in the following NEP Reports:
- NEP-ALL-2014-07-28 (All new papers)
- NEP-FDG-2014-07-28 (Financial Development & Growth)
- NEP-GRO-2014-07-28 (Economic Growth)
- NEP-TRA-2014-07-28 (Transition Economics)
- NEP-URE-2014-07-28 (Urban & Real Estate Economics)
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