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

Author

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  • Milton Barossi-Filho
  • Ricardo Gonçalves Silva
  • Eliezer Martins Diniz

Abstract

In this paper we 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, α.

Suggested Citation

  • Milton Barossi-Filho & Ricardo Gonçalves Silva & Eliezer Martins Diniz, 2005. "The Empirics of the Solow Growth Model: Long-Term Evidence," Journal of Applied Economics, Taylor & Francis Journals, vol. 8(1), pages 31-51, May.
    • Handle: RePEc:taf:recsxx:v:8:y:2005:i:1:p:31-51
    DOI: 10.1080/15140326.2005.12040617
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    Cited by:

    1. Max Kohler & Stefan Sperlich, 2019. "The Africa-Dummy: Gone with the Millennium?," Papers 1903.02357, arXiv.org.
    2. Murach, Michael & Wagner, Helmut & Kim, Jungsuk & Park, Donghyun, 2022. "Trajectories to high income: Comparing the growth dynamics in China, South Korea, and Japan with cointegrated VAR models," Structural Change and Economic Dynamics, Elsevier, vol. 62(C), pages 492-511.
    3. Claude DIEBOLT & Tapas MISHRA & Mamata PARHI, 2015. "A "Jump" in the Stochasticity of the Solow-Swan Growth Model," Economies et Sociétés (Serie 'Histoire Economique Quantitative'), Association Française de Cliométrie (AFC), issue 50, pages 905-917, Juin.
    4. Edwards, Jeffrey A. & Kasibhatla, Krishna, 2009. "Dynamic heterogeneity in cross-country growth relationships," Economic Modelling, Elsevier, vol. 26(2), pages 445-455, March.
    5. Bas Van Leeuwen & Peter Foldvari, 2008. "Human Capital and Economic Growth in Asia 1890–2000: A Time‐series Analysis," Asian Economic Journal, East Asian Economic Association, vol. 22(3), pages 225-240, September.
    6. Luis A. Quezada-Téllez & Guillermo Fernández-Anaya & Dominique Brun-Battistini & Benjamín Nuñez-Zavala & Jorge E. Macías-Díaz, 2021. "An Economic Model for OECD Economies with Truncated M -Derivatives: Exact Solutions and Simulations," Mathematics, MDPI, vol. 9(15), pages 1-14, July.
    7. Berthold, Norbert & Gründler, Klaus, 2012. "Entrepreneurship and economic growth in a panel of countries," Discussion Paper Series 118, Julius Maximilian University of Würzburg, Chair of Economic Order and Social Policy.
    8. Juchem Neto, J.P. & Claeyssen, J.C.R. & Pôrto Júnior, S.S., 2018. "Economic agglomerations and spatio-temporal cycles in a spatial growth model with capital transport cost," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 494(C), pages 76-86.

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