IDEAS home Printed from https://ideas.repec.org/a/rss/jnljee/v5i1p2.html

Endogenous Growth and Country Heterogeneity in Economic Growth: Evidence from Selected OECD Countries

Author

Listed:
  • Maoguo Wu
  • Shaokai Huang

Abstract

Investment in human capital, innovation, and knowledge are significant contributors to economic growth. Theories of economic growth indicate that saving and investment are the main forces of economic growth. Nevertheless, empirical results are not unanimously consistent with theory. In addition, economic growth varies from country to country. Neglected country heterogeneity in cross-country empirical analysis can be spurious. Making empirical contribution, this paper attempts to address the abovementioned problems by empirically testing determinants of economic growth utilizing data from OECD countries. For comparison purposes, selected OECD countries are divided into two groups: richest economies and relatively less rich economies. Results of empirical estimation indicate that lagged investment and lagged saving play a negative role in economic growth. For both richest economies and relatively less rich economies, country heterogeneity influences economic growth.

Suggested Citation

  • Maoguo Wu & Shaokai Huang, 2016. "Endogenous Growth and Country Heterogeneity in Economic Growth: Evidence from Selected OECD Countries," Journal of Empirical Economics, Research Academy of Social Sciences, vol. 5(1), pages 11-22.
    • Handle: RePEc:rss:jnljee:v5i1p2
    as

    Download full text from publisher

    File URL: http://rassweb.org/admin/pages/ResearchPapers/Paper%202_1497037742.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Sala-i-Martin, Xavier, 1997. "I Just Ran Two Million Regressions," American Economic Review, American Economic Association, vol. 87(2), pages 178-183, May.
    2. Lucas, Robert Jr., 1988. "On the mechanics of economic development," Journal of Monetary Economics, Elsevier, vol. 22(1), pages 3-42, July.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. B. Bhaskara Rao & Arusha Cooray, 2012. "How useful is growth literature for policies in the developing countries?," Applied Economics, Taylor & Francis Journals, vol. 44(6), pages 671-681, February.
    2. R Burger & S du Plessis, 2011. "Examining the Robustness of Competing Explanations of Slow Growth in African Countries," Studies in Economics and Econometrics, Taylor & Francis Journals, vol. 35(3), pages 21-47, December.
    3. Polterovich, Victor & Tonis, Alexander, 2014. "Absorptive Capacity and Innovative Capability: An Approach to Estimation," MPRA Paper 56855, University Library of Munich, Germany.
    4. Folster, Stefan & Henrekson, Magnus, 1999. "Growth and the public sector: a critique of the critics," European Journal of Political Economy, Elsevier, vol. 15(2), pages 337-358, June.
    5. Omar Neme Castillo & Ana Lilia Valderrama Santibáñez & Humberto Ríos Bolívar, 2013. "Comercio internacional, IED, capital humano e ingreso per cápita en América Latina y el Caribe," Ensayos Revista de Economia, Universidad Autonoma de Nuevo Leon, Facultad de Economia, vol. 0(1), pages 101-139, May.
    6. Jeon, Heesang, 2015. "Knowledge and Contemporary Capitalism in Light of Marx's Value Theory," Thesis Commons g5njk, Center for Open Science.
    7. Olivier Parent & Abdallah Zouache, 2009. "Geographical Features vs. Institutional Factors: New Perspectives on The Growth of Africa and Middle-East," Working Papers 490, Economic Research Forum, revised Jun 2009.
    8. Chen, Binkai & Lin, Justin Yifu, 2021. "Development strategy, resource misallocation and economic performance," Structural Change and Economic Dynamics, Elsevier, vol. 59(C), pages 612-634.
    9. M.Rosaria Alfano & A. Laura Baraldi, 2008. "The design of electoral rules and their impact on economic growth: the Italian case," Working Papers 3_2008, D.E.S. (Department of Economic Studies), University of Naples "Parthenope", Italy.
    10. Salima Bouayad-Agha & Nadine Turpin & Lionel V drine, 2010. "Fostering the potential endogenous development of European regions: a spatial dynamic panel data analysis of the Cohesion Policy on regional convergence over the period 1980-2005," TEPP Working Paper 2010-17, TEPP.
    11. Hector Sala & José Silva, 2013. "Labor productivity and vocational training: evidence from Europe," Journal of Productivity Analysis, Springer, vol. 40(1), pages 31-41, August.
    12. Bloom, David E. & Chen, Simiao & Kuhn, Michael & McGovern, Mark E. & Oxley, Les & Prettner, Klaus, 2020. "The economic burden of chronic diseases: Estimates and projections for China, Japan, and South Korea," The Journal of the Economics of Ageing, Elsevier, vol. 17(C).
    13. Forson, Joseph Ato & Janrattanagul, Jakkaphong & Carsamer, Emmanuel Carsamer, 2013. "Culture Matters: A Test of Rationality on Economic Growth," MPRA Paper 56825, University Library of Munich, Germany.
    14. Olivier Morand, 2004. "Economic growth, longevity and the epidemiological transition," The European Journal of Health Economics, Springer;Deutsche Gesellschaft für Gesundheitsökonomie (DGGÖ), vol. 5(2), pages 166-174, May.
    15. Herrmann, Sabine & Winkler, Adalbert, 2009. "Real convergence, financial markets, and the current account - Emerging Europe versus emerging Asia," The North American Journal of Economics and Finance, Elsevier, vol. 20(2), pages 100-123, August.
    16. Jorge Eduardo Mendoza Cota, 2021. "Productividad laboral regional en el sector manufacturero de Mexico, 2007-2016," Revista de Estudios Regionales, Universidades Públicas de Andalucía, vol. 2, pages 15-41.
    17. Huang, Ho-Chuan, 2005. "Diverging evidence of convergence hypothesis," Journal of Macroeconomics, Elsevier, vol. 27(2), pages 233-255, June.
    18. Poot, Jacques, 1999. "A meta-analytic study of the role of government in long-run economic growth," ERSA conference papers ersa99pa171, European Regional Science Association.
    19. John Hawkins, 2006. "The Concept of Competitiveness," Treasury Working Papers 2006-02, The Treasury, Australian Government, revised Apr 2006.
    20. Michael Peneder & Karl Aiginger & Gernot Hutschenreiter & Markus Marterbauer, 2001. "Structural Change and Economic Growth," WIFO Studies, WIFO, number 20668.

    More about this item

    Keywords

    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rss:jnljee:v5i1p2. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Danish Khalil The email address of this maintainer does not seem to be valid anymore. Please ask Danish Khalil to update the entry or send us the correct address (email available below). General contact details of provider: http://www.rassweb.org .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.