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The Solow growth model: vector autoregression (VAR) and cross-section time-series analysis

Author

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  • Pantelis Kalaitzidakis
  • George Korniotis

Abstract

The paper examines whether the Mankiw et al. results regarding the Solow model are specific tothe statistical methodology used. Therefore, instead of using cross-section data, annual data were used and the Solow model was investigated using a Vector AutoRegression (VAR) analysis for the G7 countries, and cross-section time-series data for the G3 countries. Analysis shows that, in both cases, the Mankiw et al. results generally hold. It also shows that the use of annual data can play an important and complementary role in revealing the differences in the growth process between individual countries.

Suggested Citation

  • Pantelis Kalaitzidakis & George Korniotis, 2000. "The Solow growth model: vector autoregression (VAR) and cross-section time-series analysis," Applied Economics, Taylor & Francis Journals, vol. 32(6), pages 739-747.
    • Handle: RePEc:taf:applec:v:32:y:2000:i:6:p:739-747
    DOI: 10.1080/000368400322363
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    References listed on IDEAS

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    1. Andrew C. Harvey, 1990. "The Econometric Analysis of Time Series, 2nd Edition," MIT Press Books, The MIT Press, edition 2, volume 1, number 026208189x, December.
    2. Spanos,Aris, 1999. "Probability Theory and Statistical Inference," Cambridge Books, Cambridge University Press, number 9780521424080.
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    Cited by:

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    2. Paul E. Brockway & Matthew K. Heun & João Santos & John R. Barrett, 2017. "Energy-Extended CES Aggregate Production: Current Aspects of Their Specification and Econometric Estimation," Energies, MDPI, vol. 10(2), pages 1-23, February.
    3. Maria Adelaide Duarte & Marta Simões, 2004. "Human capital, mechanisms of technological diffusion and the role of technological shocks in the speed of diffusion. Evidence from a panel of Mediterranean countries," Notas Económicas, Faculty of Economics, University of Coimbra, issue 20, pages 102-134, December.

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