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The modeling of the economic development on the basis of an extended Solow-Swan growth model with the inclusion of spatial aspect

Author

Listed:
  • Beata Bal-Domanska

    (Wroclaw University of Economics, Poland)

  • Michal Bernard Pietrzak

    (Nicolaus Copernicus University, Poland)

Abstract

The objective of the article is to identify and evaluate spatial relations in terms of economic determinants for the regions of Central and Eastern European countries (in accordance with Eurostat methodology NUTS-2 stands for the corresponding level) having applied the construction of an augmented, neoclassical Mankiw-Romer-Weil growth model. The study covered the period of three years: 2000, 2005 and 2010. The obtained results confirmed the significance of spatial relations, in the evaluation of relations combining growth factors, for the level of economic growth. The statistically significant impact, however, was observed only in case of the factor illustrating human capital.

Suggested Citation

  • Beata Bal-Domanska & Michal Bernard Pietrzak, 2014. "The modeling of the economic development on the basis of an extended Solow-Swan growth model with the inclusion of spatial aspect," Working Papers 12/2014, Institute of Economic Research, revised May 2014.
  • Handle: RePEc:pes:wpaper:2014:no12
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    Cited by:

    1. Mariya Neycheva, 2019. "How might the negative impact of higher education on growth be explained? The role of vertical qualification (mis)match in an MRW‐type model," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 27(4), pages 943-969, October.

    More about this item

    Keywords

    augmented Mankiw-Romer-Weil growth model; spatial econometrics; Central and Eastern European regions;
    All these keywords.

    JEL classification:

    • C21 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Cross-Sectional Models; Spatial Models; Treatment Effect Models
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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