It draws on the recent endogeous-growth methodology to study the factors behind differences in per capita growth rates accross these countries. With an augmented Solow rnodel that includes accumulation of human capital, the results indicate that an inctease in investment has a relatively large positive impact on per capita growth.
Growth is stimulated by public policies that lower the budget deficit and the rate of inflation.
These policies maintain externe competitiveness, encourage human capital development and slow population growt. Please take the time and register at our new service.