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The Role of Production Progress and Human Capital in the Economic Growth of Latvia

  • Aleksejs Melihovs

    (Bank of Latvia)

  • Gundars Davidsons

    (Bank of Latvia)

The paper sets a goal to assess the significance of production progress and human capital for the Latvian economy and to estimate long-term growth rates of the country's economic development. The authors made an attempt to construct a production function using non-linear modelling. In order to improve the production function model for Latvia, the authors augmented the model by human capital approximation.

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Paper provided by Latvijas Banka in its series Working Papers with number 2006/03.

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Date of creation: 18 Dec 2006
Date of revision:
Handle: RePEc:ltv:wpaper:200603
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