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Time-series econometrics of growth-models: a guide for applied economists

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  • B. Bhaskara Rao

Abstract

This article examines the use of specifications based on the endogenous and exogenous growth-models for country-specific growth policies. It is suggested that time-series models based on the Solow (1956) exogenous growth-model are useful and they can also be extended to capture the permanent growth-effects of some variables. Our empirical results, with data from Fiji, show that trade openness and human capital have significant and permanent growth-effects. However, these growth-effects are small and eventually converge over time.

Suggested Citation

  • B. Bhaskara Rao, 2010. "Time-series econometrics of growth-models: a guide for applied economists," Applied Economics, Taylor & Francis Journals, vol. 42(1), pages 73-86.
  • Handle: RePEc:taf:applec:v:42:y:2010:i:1:p:73-86
    DOI: 10.1080/00036840701564434
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    References listed on IDEAS

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    1. Caselli, Francesco & Wilson, Daniel J., 2004. "Importing technology," Journal of Monetary Economics, Elsevier, vol. 51(1), pages 1-32, January.
    2. Kevin D. Hoover & Stephen J. Perez, 2004. "Truth and Robustness in Cross-country Growth Regressions," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 66(5), pages 765-798, December.
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    6. Barro, Robert J. & Lee, Jong-Wha, 1993. "International comparisons of educational attainment," Journal of Monetary Economics, Elsevier, vol. 32(3), pages 363-394, December.
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    8. Robert J. Barro, 1991. "Economic Growth in a Cross Section of Countries," The Quarterly Journal of Economics, Oxford University Press, vol. 106(2), pages 407-443.
    9. Simon Feeny, 2005. "The Impact of Foreign Aid on Economic Growth in Papua New Guinea," Journal of Development Studies, Taylor & Francis Journals, vol. 41(6), pages 1092-1117.
    10. Rao, B. Bhaskara & Gounder, Rukmini, 2007. "The level and growth effects in the empirics of economic growth," MPRA Paper 1841, University Library of Munich, Germany.
    11. B. Bhaskara Rao & Toani Takirua, 2010. "The effects of exports, aid and remittances on output: the case of Kiribati," Applied Economics, Taylor & Francis Journals, vol. 42(11), pages 1387-1396.
    12. William Easterly & Ross Levine & David Roodman, 2004. "Aid, Policies, and Growth: Comment," American Economic Review, American Economic Association, vol. 94(3), pages 774-780, June.
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    Cited by:

    1. Casadio, Paolo & Paradiso, Antonio & Rao, B. Bhaskara, 2012. "Estimates of the steady state growth rates for some European countries," Economic Modelling, Elsevier, vol. 29(4), pages 1119-1125.
    2. Arusha Cooray & Antonio Paradiso, 2012. "The level and growth effects in empirical growth models for the Nordic countries: A knowledge economy approach," CAMA Working Papers 2012-36, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    3. Antonio Paradiso & B. Bhaskara Rao, 2011. "How to offset the negative trend growth rate in the Italian economy?," Applied Economics Letters, Taylor & Francis Journals, vol. 18(15), pages 1479-1483.
    4. Hassan, Gazi & Cooray, Arusha, 2015. "Effects of male and female education on economic growth: Some evidence from Asia," Journal of Asian Economics, Elsevier, vol. 36(C), pages 97-109.
    5. Rao, B. Bhaskara & Cooray, Arusha & Hassan, Gazi Mainul, 2011. "Growth effects of education with the extreme bounds analysis: some evidence from Asia," MPRA Paper 32279, University Library of Munich, Germany.
    6. Casadio, Paolo & Paradiso, Antonio & Rao, B. Bhaskara, 2011. "Estimates of the steady state growth rates for the Scandinavian countries: a knowledge economy approach," MPRA Paper 31606, University Library of Munich, Germany.
    7. Saten Kumar & Gail Pacheco, 2010. "What Determines the Long run Growth in Kenya?," EERI Research Paper Series EERI_RP_2010_16, Economics and Econometrics Research Institute (EERI), Brussels.
    8. Arusha Cooray & Marcella Lucchetta & Antonio Paradiso, 2013. "A knowledge economy approach in empirical growth models for the Nordic countries," Economics Working Papers wp13-06, School of Economics, University of Wollongong, NSW, Australia.
    9. Casadio, Paolo & Paradiso, Antonio & Rao, B. Bhaskara, 2011. "Estimates of the Steady State Growth Rates for Ireland," MPRA Paper 30595, University Library of Munich, Germany.
    10. Antonio Paradiso & Saten Kumar & B. Bhaskara Rao, 2013. "The growth effects of education in Australia," Applied Economics, Taylor & Francis Journals, vol. 45(27), pages 3843-3852, September.
    11. Kumar, Saten & Pacheco, Gail, 2012. "What determines the long run growth rate in Kenya?," Journal of Policy Modeling, Elsevier, vol. 34(5), pages 705-718.
    12. Cooray, Arusha & Paradiso, Antonio & Truglia, Francesco Giovanni, 2013. "Do countries belonging to the same region suggest the same growth enhancing variables? Evidence from selected South Asian countries," Economic Modelling, Elsevier, vol. 33(C), pages 772-779.

    More about this item

    JEL classification:

    • O49 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Other
    • C00 - Mathematical and Quantitative Methods - - General - - - General
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes

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