Capital accumulation and growth
Subtitle: a new look at the empirical evidence
By: by Steve Bond, Asli Leblebicioglu, Fabio Schiantarelli.
Contributors: Leblebicioglu, Asli.; Schiantarelli, Fabio.
Series: Discussion paper ;; no. 1174; Discussion paper (Forschungsinstitut zur Zukunft der Arbeit : Online) ;; no. 1174
Publisher: IZA
Published: 2004
Place of publication: Bonn, Germany
Language: eng
Format: Electronic resource
Subjects: Saving and investment -- Econometric models.; Economic development -- Econometric models.
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"--Forschungsinstitut zur Zukunft der Arbeit web site.
Notes: Also available in print.
Includes bibliographical references.
Title from PDF file as viewed on 5/16/2005.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.