The Empirics of the Solow Growth Model: Long-Term Evidence
AbstractThe purpose of this paper is to reassess the standard Solow growth model,using a dynamic panel data approach. A new methodology is chosen to deal with this problem. First, unit root tests for individual country time series were run. Second, panel data unit root and cointegration tests were performed. Finally, the panel cointegration dynamics is estimated by DOLS method. The resulting evidence supports roughly one- third capital share in income.
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Bibliographic InfoPaper provided by EconWPA in its series GE, Growth, Math methods with number 0406001.
Length: 24 pages
Date of creation: 16 Jun 2004
Date of revision: 08 Oct 2005
Note: Type of Document - pdf; pages: 24
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Economic growth; panel data; unit root; cointegration and convergence;
Other versions of this item:
- Milton Barossi-Filho & Ricardo Gonçalves Silva & Eliezer Martins Diniz, 2005. "The empirics of the Solow growth model: Long-term evidence," Journal of Applied Economics, Universidad del CEMA, vol. 0, pages 31-51, May.
- O47 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Measurement of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
- O50 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - General
- O57 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Comparative Studies of Countries
- C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
- C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
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