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Product Variety and Economic Growth-Empirical Evidence for the OECD Countries

  • Michael Funke
  • Ralf Ruhwedel

Utilizing panel data for 19 OECD countries we find support for the hypothesis that a greater degree of product variety relative to the US helps to explain relative per capita GDP levels. The empirical work relies upon some direct measures of product variety calculated from 6-digit OECD export and import data. The econometric estimates indicate that the index of relative product variety is significantly correlated with relative per capita income levels.

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Paper provided by Centre for Research into Industry, Enterprise, Finance and the Firm in its series CRIEFF Discussion Papers with number 9906.

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Date of creation: Oct 1999
Date of revision:
Handle: RePEc:san:crieff:9906
Contact details of provider: Postal: School of Economics and Finance, University of St. Andrews, Fife KY16 9AL
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  1. Feenstra, Robert C & Markusen, James R, 1994. "Accounting for Growth with New Inputs," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 35(2), pages 429-47, May.
  2. Bayoumi, Tamim & Coe, David T. & Helpman, Elhanan, 1999. "R&D spillovers and global growth," Journal of International Economics, Elsevier, vol. 47(2), pages 399-428, April.
  3. repec:chb:bcchwp:03 is not listed on IDEAS
  4. Caselli, Francesco & Esquivel, Gerardo & Lefort, Fernando, 1996. " Reopening the Convergence Debate: A New Look at Cross-Country Growth Empirics," Journal of Economic Growth, Springer, vol. 1(3), pages 363-89, September.
  5. Robert C. Feenstra & Dorsati Madani & Tzu-Han Yang & Chi-Yuan Liang, 1997. "Testing Endogenous Growth in South Korea and Taiwan," NBER Working Papers 6028, National Bureau of Economic Research, Inc.
  6. Pasaran, M.H. & Im, K.S. & Shin, Y., 1995. "Testing for Unit Roots in Heterogeneous Panels," Cambridge Working Papers in Economics 9526, Faculty of Economics, University of Cambridge.
  7. David T. Coe & Elhanan Helpman, 1993. "International R&D Spillovers," NBER Working Papers 4444, National Bureau of Economic Research, Inc.
  8. Suzanne McCoskey & Chihwa Kao, 1998. "A residual-based test of the null of cointegration in panel data," Econometric Reviews, Taylor & Francis Journals, vol. 17(1), pages 57-84.
  9. Jonathan Temple, 1999. "The New Growth Evidence," Journal of Economic Literature, American Economic Association, vol. 37(1), pages 112-156, March.
  10. Evans, Paul, 1997. "Government Consumption and Growth," Economic Inquiry, Western Economic Association International, vol. 35(2), pages 209-17, April.
  11. Canova, Fabio & Marcet, Albert, 1995. "The Poor Stay Poor: Non-Convergence Across Countries and Regions," CEPR Discussion Papers 1265, C.E.P.R. Discussion Papers.
  12. Diana Weinhold & James Rauch, 1997. "Openness, Specialization, and Productivity Growth in Less Developed Countries," NBER Working Papers 6131, National Bureau of Economic Research, Inc.
  13. William Easterly & Robert King & Ross Levine & Sergio Rebelo, 1994. "Policy, Technology Adoption, and Growth," NBER Working Papers 4681, National Bureau of Economic Research, Inc.
  14. Feenstra, Robert C. & Yang, Tzu-Han & Hamilton, Gary G., 1999. "Business groups and product variety in trade: evidence from South Korea, Taiwan and Japan," Journal of International Economics, Elsevier, vol. 48(1), pages 71-100, June.
  15. repec:tpr:qjecon:v:110:y:1995:i:2:p:495-525 is not listed on IDEAS
  16. Barker, Terry S, 1977. "International Trade and Economic Growth: An Alternative to the Neoclassical Approach," Cambridge Journal of Economics, Oxford University Press, vol. 1(2), pages 153-72, June.
  17. Peter Pedroni, 1999. "Critical Values for Cointegration Tests in Heterogeneous Panels with Multiple Regressors," Department of Economics Working Papers 2000-02, Department of Economics, Williams College.
  18. Driver, R. & Wren-Lewis, S., 1999. "New Trade Theory and Aggregate Export Equations: an Application of Panel Cointegration," Discussion Papers 9917, Exeter University, Department of Economics.
  19. Feenstra, Robert C, 1994. "New Product Varieties and the Measurement of International Prices," American Economic Review, American Economic Association, vol. 84(1), pages 157-77, March.
  20. Sato, Kazuo, 1976. "The Ideal Log-Change Index Number," The Review of Economics and Statistics, MIT Press, vol. 58(2), pages 223-28, May.
  21. Kocherlakota, Narayana R & Yi, Kei-Mu, 1996. "A Simple Time Series Test of Endogenous vs. Exogenous Growth Models: An Application to the United States," The Review of Economics and Statistics, MIT Press, vol. 78(1), pages 126-34, February.
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