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Economic Growth and Verdoorn's Law in the Spanish Regions, 1962-1991

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  • Miguel A. Leon-Ledesma

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Abstract

The aim of this paper is to test for the presence of dynamic increasing returns to scale in Spanish regional growth between 1962 and 1991. The theoretical framework within which this paper is based is the so-called Verdoorn's Law. Tests of the law are performed not only for the manufacturing sector but also for agriculture, construction, services and total value added. The results show substantial increasing returns for manufacturing for the services sector and for total value added. The static-dynamic paradox found by McCombie (1982) is also discussed and tested. We find no support for the hypothesis of a Cobb-Douglas as the underlying technical relationship of the law.

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File URL: ftp://ftp.ukc.ac.uk/pub/ejr/RePEc/ukc/ukcedp/9801.pdf
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Bibliographic Info

Paper provided by Department of Economics, University of Kent in its series Studies in Economics with number 9801.

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Date of creation: Jan 1998
Date of revision:
Publication status: Forthcoming in International Review of Applied Economics, 2000
Handle: RePEc:ukc:ukcedp:9801

Contact details of provider:
Postal: Department of Economics, University of Kent at Canterbury, Canterbury, Kent, CT2 7NP
Phone: +44 (0)1227 764000
Fax: +44 (0)1227 827850
Web page: http://www.ukc.ac.uk/economics/

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Related research

Keywords: Regional growth; Verdoorn's Law; Sectoral Disaggregation;

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References

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  1. Chatterji, Monojit & Wickens, Michael R, 1982. "Productivity, Factor Transfers and Economic Growth in the UK," Economica, London School of Economics and Political Science, vol. 49(193), pages 21-38, February.
  2. Kaldor, Nicholas, 1975. "Economic Growth and the Verdoorn Law-A Comment on Mr. Rowthorn's Article," Economic Journal, Royal Economic Society, vol. 85(340), pages 891-96, December.
  3. McCombie, J S L & de Ridder, J R, 1984. ""The Verdoorn Law Controversy": Some New Empirical Evidence Using U.S. State Data," Oxford Economic Papers, Oxford University Press, vol. 36(2), pages 268-84, June.
  4. Zvi Griliches & Jerry A. Hausman, 1984. "Errors in Variables in Panel Data," NBER Technical Working Papers 0037, National Bureau of Economic Research, Inc.
  5. Fingleton, B & McCombie, J S L, 1998. "Increasing Returns and Economic Growth: Some Evidence for Manufacturing from the European Union Regions," Oxford Economic Papers, Oxford University Press, vol. 50(1), pages 89-105, January.
  6. McCombie, J S L, 1991. "The Productivity Growth Slowdown of the Advanced Countries and the Inter-sectoral Reallocation of Labour," Australian Economic Papers, Wiley Blackwell, vol. 30(56), pages 70-85, June.
  7. John S. L. McCombie & John R. De Ridder, 1983. "Increasing Returns, Productivity, and Output Growth: The Case of the United States," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 5(3), pages 373-387, April.
  8. A. P. Thirlwall, 1983. "A Plain Man's Guide to Kaldor's Growth Laws," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 5(3), pages 345-358, April.
  9. Dixon, R & Thirlwall, A P, 1975. "A Model of Regional Growth-Rate Differences on Kaldorian Lines," Oxford Economic Papers, Oxford University Press, vol. 27(2), pages 201-14, July.
  10. Kaldor, Nicholas, 1970. "The Case for Regional Policies," Scottish Journal of Political Economy, Scottish Economic Society, vol. 17(3), pages 337-48, November.
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Citations

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Cited by:
  1. Martinho, Vítor João Pereira Domingues, 2011. "A model of the Keynesian theory for Portugal," MPRA Paper 33624, University Library of Munich, Germany.
  2. Martinho, Vítor João Pereira Domingues, 2011. "The Verdoorn law in the Portuguese regions: a panel data analysis," MPRA Paper 32186, University Library of Munich, Germany.
  3. Vitor Joao Pereira Domingues Martinho, 2011. "An Alternative Use of the Verdoorn Law at the Portuguese NUTs II Level," Papers 1110.5548, arXiv.org.
  4. Martinho, Vítor João Pereira Domingues, 2011. "The Keynesian theory and the manufactured industry in Portugal," MPRA Paper 33363, University Library of Munich, Germany.
  5. Martinho, Vítor João Pereira Domingues, 2011. "A model of the Keynesian theory for Portugal. Another perspective," MPRA Paper 33626, University Library of Munich, Germany.
  6. Martinho, Vítor João Pereira Domingues, 2011. "A model of the Keynesian theory for the Portuguese manufactured industry," MPRA Paper 33632, University Library of Munich, Germany.
  7. Martinho, Vítor João Pereira Domingues, 2011. "A model of the Keynesian theory for the Portuguese manufactured industry. Another analysis," MPRA Paper 33633, University Library of Munich, Germany.
  8. Martinho, Vítor João Pereira Domingues, 2011. "A model of the Keynesian theory for Portugal. Another approach," MPRA Paper 33629, University Library of Munich, Germany.

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