Estimates of the steady state growth rates for the Scandinavian countries: a knowledge economy approach
This paper estimates the steady state growth rate for Scandinavian countries with a “knowledge economy” approach. We shall use an extended version of the Solow (1956) growth model, in which total factor productivity is assumed to be a function of human capital (measured by average years of education), trade openness and investment ratio. Using this framework we show that these factors, and in particular the education variable, have played an important role to determine the long run growth rates of the Scandinavian countries. Some policy measures are identified to improve the long-run growth rates for these countries.
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| Date of creation: | 30 May 2011 |
| Date of revision: | |
| Handle: | RePEc:pra:mprapa:31606 |
| Contact details of provider: | Postal: Phone: +49-(0)89-2180-2219 Fax: +49-(0)89-2180-3900 Web page: http://mpra.ub.uni-muenchen.de More information through EDIRC
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- Carl Dahlman & Thomas Anderson, 2000. "Korea and the Knowledge-based Economy : Making the Transition," World Bank Publications, The World Bank, number 13845, March.
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