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Economic Growth and Verdoorn's Law in the Spanish Regions, 1962-91

  • Miguel Leon-Ledesma

The aim of this paper is to test for the presence of dynamic increasing returns to scale in the Spanish regions between 1962 and 1991.The framework in which this paper is based is the so-called Verdoorn's Law. Tests are carried out for the manufacturing sector, agriculture, construction, services and total value added. The results show substantial increasing returns for manufacturing, services sector and for total value added. The staticdynamic paradox found by McCombie (1982) is also discussed and tested. We find no support for the hypothesis of a Cobb-Douglas function as the underlying technical relationship of the law.

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Article provided by Taylor & Francis Journals in its journal International Review of Applied Economics.

Volume (Year): 14 (2000)
Issue (Month): 1 ()
Pages: 55-69

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Handle: RePEc:taf:irapec:v:14:y:2000:i:1:p:55-69
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  1. McCombie, J S L & de Ridder, J R, 1984. ""The Verdoorn Law Controversy": Some New Empirical Evidence Using U.S. State Data," Oxford Economic Papers, Oxford University Press, vol. 36(2), pages 268-84, June.
  2. Griliches, Zvi & Hausman, Jerry A., 1986. "Errors in variables in panel data," Journal of Econometrics, Elsevier, vol. 31(1), pages 93-118, February.
  3. Chatterji, Monojit & Wickens, Michael R, 1982. "Productivity, Factor Transfers and Economic Growth in the UK," Economica, London School of Economics and Political Science, vol. 49(193), pages 21-38, February.
  4. A. P. Thirlwall, 2007. "Regional Problems are "Balance-of-Payments" Problems," Regional Studies, Taylor & Francis Journals, vol. 41(sup1), pages S89-S95.
  5. Dixon, R & Thirlwall, A P, 1975. "A Model of Regional Growth-Rate Differences on Kaldorian Lines," Oxford Economic Papers, Oxford University Press, vol. 27(2), pages 201-14, July.
  6. Kaldor, Nicholas, 1970. "The Case for Regional Policies," Scottish Journal of Political Economy, Scottish Economic Society, vol. 17(3), pages 337-48, November.
  7. A. P. Thirlwall, 1983. "A Plain Man's Guide to Kaldor's Growth Laws," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 5(3), pages 345-358, April.
  8. Fingleton, B & McCombie, J S L, 1998. "Increasing Returns and Economic Growth: Some Evidence for Manufacturing from the European Union Regions," Oxford Economic Papers, Oxford University Press, vol. 50(1), pages 89-105, January.
  9. McCombie, J S L, 1991. "The Productivity Growth Slowdown of the Advanced Countries and the Inter-sectoral Reallocation of Labour," Australian Economic Papers, Wiley Blackwell, vol. 30(56), pages 70-85, June.
  10. John S. L. McCombie & John R. De Ridder, 1983. "Increasing Returns, Productivity, and Output Growth: The Case of the United States," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 5(3), pages 373-387, April.
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