Social Ingredients and Conditional Convergence in the Study of Sectoral Growth
AbstractIn this research article, we investigate the improved modelling ability and the outstanding policy advocacy of infusing health and education in sectoral growth equations of the South African economy. Our findings not only include improved and dependable modelling results but also provide distinct estimates of the returns on investment in health and education per sector using Iterative Seemingly Unrelated Regressions techniques. Additionally, this paper provides a theoretical description of the productivity effects of HIV/AIDS using sectoral equations. Also, this research investigates the diffusion process in the technological progress at the South African sectoral level and its impact on the study of social ingredients. Using a fixed effects model, some features of the diffusion process are explained.
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Bibliographic InfoPaper provided by University of Pretoria, Department of Economics in its series Working Papers with number 200931.
Length: 17 pages
Date of creation: Oct 2009
Date of revision:
Coefficient of effectiveness; Diffusion process; Fixed effects model; Seemingly Unrelated Regressions;
Find related papers by JEL classification:
- E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
- I39 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Other
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-01-16 (All new papers)
- NEP-FDG-2010-01-16 (Financial Development & Growth)
- NEP-MAC-2010-01-16 (Macroeconomics)
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