Can government policies increase national long-run growth rates?
AbstractWe obtain time series estimates of the long run growth rates of 17 OECD countries, and test the hypothesis that these are the same across countries. We find that we cannot reject this hypothesis for the first and last three decades of the 20th century. We conclude that: (i) there are few, if any, feasible policies available that have a significant effect on long run growth rates, and; (ii) any policies that can raise national growth rates must be international in scope. The results therefore have bleak implications for the ability of countries to affect their long run growth rates.
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Bibliographic InfoPaper provided by Rutgers University, Department of Economics in its series Departmental Working Papers with number 200213.
Date of creation: 19 Jun 2002
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Convergence; Growth; Technological Change;
Other versions of this item:
- Robertson, Peter & John S Landon-Lane, 2003. "Can government policies increase national long-run growth rates?," Royal Economic Society Annual Conference 2003 175, Royal Economic Society.
- F0 - International Economics - - General
- O0 - Economic Development, Technological Change, and Growth - - General
- O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity
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