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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/20414| Title: | Capital Accumulation and Growth : A New Look at the Empirical Evidence |
| Keywords: | C23 E22 O40 ddc:330 growth capital accumulation investment Investition Wirtschaftswachstum Arbeitsproduktivität Schätzung Welt |
| Issue Date: | 16-Oct-2013 |
| Publisher: | |
| Description: | We present evidence that an increase in investment as a share of GDP predicts a higher growth rate of output per worker, not only temporarily, but also in the steady state. These results are found using pooled annual data for a large panel of countries, using pooled data for non-overlapping five-year periods, or allowing for heterogeneity across countries in regression coefficients. They are robust to model specifications and estimation methods. The evidence that investment has a long-run effect on growth rates is consistent with the main implication of certain endogenous growth models, such as the AK model. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/20414 |
| Other Identifiers: | http://hdl.handle.net/10419/20414 ppn:389180149 |
| Appears in Collections: | EconStor |
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