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The Empirics of the Solow Growth Model: Long-Term Evidence

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Author Info
Milton Barossi-Filho (Faculdade de Economia, Administração e Contabilidade de Ribeirão Preto)
Ricardo Gonçalves Silva (Faculdade de Economia, Administração e Contabilidade de Ribeirão Preto)
Eliezer Martins Diniz (Faculdade de Economia, Administração e Contabilidade de Ribeirão Preto)

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Abstract

The 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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Publisher Info
Paper provided by EconWPA in its series GE, Growth, Math methods with number 0406001.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 24 pages
Date of creation: 16 Jun 2004
Date of revision: 08 Oct 2005
Handle: RePEc:wpa:wuwpge:0406001

Note: Type of Document - pdf; pages: 24
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Web page: http://129.3.20.41

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Related research
Keywords: Economic growth; panel data; unit root; cointegration and convergence;

Other versions of this item:

Find related papers by JEL classification:
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
C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation and Testing

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References listed on IDEAS
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    Other versions:
  2. Binder, Michael & Pesaran, M Hashem, 1999. " Stochastic Growth Models and Their Econometric Implications," Journal of Economic Growth, Springer, vol. 4(2), pages 139-83, June. [Downloadable!] (restricted)
  3. Caselli, Francesco & Esquivel, Gerardo & Lefort, Fernando, 1996. " Reopening the Convergence Debate: A New Look at Cross-Country Growth Empirics," Journal of Economic Growth, Springer, vol. 1(3), pages 363-89, September.
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    Other versions:
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  6. Ferreira, Pedro Cavalcanti Gomes & Issler, João Victor & Pessoa, Samuel de Abreu, 2000. "On The Nature Of Income Inequality Across Nations," Economics Working Papers (Ensaios Economicos da EPGE) 370, Graduate School of Economics, Getulio Vargas Foundation (Brazil). [Downloadable!]
    Other versions:
  7. Im, Kyung So & Pesaran, M. Hashem & Shin, Yongcheol, 2003. "Testing for unit roots in heterogeneous panels," Journal of Econometrics, Elsevier, vol. 115(1), pages 53-74, July. [Downloadable!] (restricted)
    Other versions:
  8. repec:att:wimass:192036 is not listed on IDEAS
  9. Lee, Junsoo & Strazicich, Mark C, 2001. " Break Point Estimation and Spurious Rejections with Endogenous Unit Root Tests," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 63(5), pages 535-58, December. [Downloadable!] (restricted)
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  11. Islam, Nazrul, 1995. "Growth Empirics: A Panel Data Approach," The Quarterly Journal of Economics, MIT Press, vol. 110(4), pages 1127-70, November. [Downloadable!] (restricted)
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  13. Bernard, Andrew B. & Durlauf, Steven N., 1996. "Interpreting tests of the convergence hypothesis," Journal of Econometrics, Elsevier, vol. 71(1-2), pages 161-173. [Downloadable!] (restricted)
    Other versions:
  14. Binder, M. & Pesaran, M.H., 1996. "Stochastic Growth," Cambridge Working Papers in Economics 9615, Faculty of Economics, University of Cambridge.
  15. Mankiw, N Gregory & Romer, David & Weil, David N, 1992. "A Contribution to the Empirics of Economic Growth," The Quarterly Journal of Economics, MIT Press, vol. 107(2), pages 407-37, May. [Downloadable!] (restricted)
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  16. Sergio T. Rebelo, 1992. "Long Run Policy Analysis and Long Run Growth," NBER Working Papers 3325, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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