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An extension to the neoclassical growth modelto Estimate Growth and Level Effects

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Author Info
Rao, B. Bhaskara
Singh, Rup
Nisha, Fozia

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Abstract

The 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.

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Publisher Info
Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 2186.

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Date of creation: 2006
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Handle: RePEc:pra:mprapa:2186

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Related research
Keywords: The Solow Growth Model; Production Function; Shift Variables; Human Capital Level and Growth Effects.;

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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 - - - General
O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
I20 - Health, Education, and Welfare - - Education - - - General

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References listed on IDEAS
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.:
  1. 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. [Downloadable!]
    Other versions:
    • Durlauf, Steven N. & Johnson, Paul A. & Temple, Jonathan R.W., 2005. "Growth Econometrics," Handbook of Economic Growth, in: Philippe Aghion & Steven Durlauf (ed.), Handbook of Economic Growth, edition 1, volume 1, chapter 8, pages 555-677 Elsevier. [Downloadable!] (restricted)
  2. 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. [Downloadable!] (restricted)
  3. repec:att:wimass:1920418 is not listed on IDEAS
  4. Neil R. Ericsson & James G. MacKinnon, 2002. "Distributions of error correction tests for cointegration," Econometrics Journal, Royal Economic Society, vol. 5(2), pages 285-318, 06. [Downloadable!] (restricted)
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  5. Masasaki Fuse, 2004. "Estimating intertemporal substitution in Japan," Applied Economics Letters, Taylor and Francis Journals, vol. 11(4), pages 267-269, March. [Downloadable!] (restricted)
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Cited by:
(explanations, 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.)

  1. 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. [Downloadable!]
  2. Chowdhury, Anis & Vidyattama, Yogi, 2007. "Macroeconomic Policies for Growth in Small Pacific Island Economies," Working Papers UNU-WIDER Research Paper , World Institute for Development Economic Research (UNU-WIDER). [Downloadable!]
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