An extension to the neoclassical growth modelto Estimate Growth and Level Effects
AbstractThe neoclassical growth model was extended by Mankiw, Romer and Weil (1992) to estimate the level effects of additional factors like human capital. We suggest a further extension to capture their permanent growth effects. Time series data from Fiji are used to show that the growth effect of human capital, although small, is significant. Furthermore, in our sample the specifications with a permanent growth effect performed better than specifications with only level effects.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 2186.
Date of creation: 2006
Date of revision:
The Solow Growth Model; Production Function; Shift Variables; Human Capital Level and Growth Effects;
Find related papers by JEL classification:
- O56 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Oceania
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
- O1 - Economic Development, Technological Change, and Growth - - Economic Development
- I29 - Health, Education, and Welfare - - Education - - - Other
- O30 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - General
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
- I20 - Health, Education, and Welfare - - Education - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-03-17 (All new papers)
- NEP-DEV-2007-03-17 (Development)
- NEP-HRM-2007-03-17 (Human Capital & Human Resource Management)
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Neil R. Ericsson & James G. MacKinnon, 2002.
"Distributions of error correction tests for cointegration,"
Royal Economic Society, vol. 5(2), pages 285-318, 06.
- Neil R. Ericsson & James G. MacKinnon, 2000. "Distributions of Error Correction Tests for Cointegration," Econometric Society World Congress 2000 Contributed Papers 0561, Econometric Society.
- Neil R. Ericsson & James G. MacKinnon, 1999. "Distributions of error correction tests for cointegration," International Finance Discussion Papers 655, Board of Governors of the Federal Reserve System (U.S.).
- Durlauf,S.N. & Johnson,P.A. & Temple,J.R.W., 2004.
18, Wisconsin Madison - Social Systems.
- Johnson, Paul & Durlauf, Steven N & Temple, Johnathan R. W., 2004. "Growth Econometrics," Vassar College Department of Economics Working Paper Series 61, Vassar College Department of Economics.
- Masasaki Fuse, 2004. "Estimating intertemporal substitution in Japan," Applied Economics Letters, Taylor & Francis Journals, vol. 11(4), pages 267-269.
- Gang Gong & Alfred Greiner & Willi Semmler, 2004. "Endogenous Growth: Estimating the Romer Model for the US and Germany," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 66(2), pages 147-164, 05.
- B. Bhaskara Rao & Toani Takirua, 2010.
"The effects of exports, aid and remittances on output: the case of Kiribati,"
Taylor & Francis Journals, vol. 42(11), pages 1387-1396.
- Rao, B. Bhaskara & Takirua, Toani, 2006. "The effects of exports, aid and remittances on output: The case of Kiribati," MPRA Paper 1548, University Library of Munich, Germany.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Ekkehart Schlicht).
If references are entirely missing, you can add them using this form.