2 edition of Convergence, endogenous growth, and productivity disturbances found in the catalog.
Convergence, endogenous growth, and productivity disturbances
C. K. Leung
|Statement||Charles Leung and Danny T. Quah.|
|Series||Discussion paper series / Centre for Economic Policy Research -- No.1383|
|Contributions||Quah, Danny., Centre for Economic Policy Research.|
The second part examines the long-term record on productivity among Organisation for Economic Co-operation and Development (OECD) countries, considers the sources of growth among them with particular attention to the role of education, investigates convergence at the industry level among them, and examines the productivity slowdown of the s: 1. Whereas other books on endogenous growth stress a particular aspect, such as trade or convergence, this book provides a comprehensive survey of the theoretical and empirical debates raised by modern growth theory. Advanced economies have experienced a tremendous increase in material well- being since the industrial revolution. Modern innovations such as personal computers, .
Growth 95 Scale Effects 96 Conclusion 99 Literature Notes Problems 5 Capital, Innovation, and Growth Accounting Introduction Measuring the Growth of Total Factor Productivity Empirical Results Some Problems with Growth Accounting The book combines the theory with the stylized facts of economic growth and tries to theoretically substantiate. Growth reduces poverty and leads to a convergence of countries. Growth drives innovation and increases the inequality in democratic countries. At the beginning the four growth models are s:
In this chapter we develop an alternative model of endogenous growth (see Aghion and Howitt , a) where growth is genera ted by a random sequence of quality improving (or “vertical”) innovations that result from (uncertain) research activities. 1 This model grew out of modern industrial organization theory 2. This model of growth. Time Series Tests of Endogenous Growth Models. Quarterly Journal of Economics, May , Vol. , pp. View the paper in PDF file. According to endogenous growth theory, permanent changes in certain policy variables have permanent effects on the rate of economic growth. Empirically, however, U.S. growth rates exhibit no large.
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Kelly () has recently shown that evidence on convergence cannot be taken as evidence against endogenous growth in general. This study uses a well-known class of stochastic growth models to show other difficulties with traditional empirical studies of convergence.
Key parameters typically cannot be estimated consistently in cross-section regressions. ELSEVIER Journal of Monetary Economics 38 () JOURNALOF Monetary ECONOMICS Convergence, endogenous growth, and productivity disturbances Charles Ka Yui Leunga, Danny T.
Quah*'b a Chinese University q/ Hon9 Konq Shatin. Hon~l Kon~l b London School ~)/ Economics, Lore/on W(2A by: Get this from a library. Convergence, endogenous growth, and productivity disturbances. [Charles Ka Yui Leung; Danny Quah; Centre for Economic Policy Research (Great Britain)].
Therefore, in empirical studies of macroeconomic growth, it would appear that researchers are doubly blessed.
Convergence is of interest in two important ways: rst, in the sense just described, and second in its ability, according to some economists, to provide insight on whether growth is better characterized as exogenous or endogenous.
Kelly () has recently shown evidence on convergence cannot be taken as evidence against endogenous growth in general. This study uses a well-known class of stochastic growth.
Can convergence regressions distinguish between exogenous and endogenous growth models. Economics Letters, 49, Leung, C. and Quah, D. Convergence, endogenous growth and productivity disturbances.
Journal of Monetary Economics, 38(3), Mathunjwa, Jochonia S. and Temple, Jonathan R. Convergence behaviour in. Endogenous growth theory holds that economic growth is primarily the result of endogenous and not external forces.
Endogenous growth theory holds that investment in human capital, innovation, and knowledge are significant contributors to economic theory also focuses on positive externalities and spillover effects of a knowledge-based economy which will lead to economic. More specifically, our research extends the stochastic endogenous growth literature to capture the impact of economic integration on convergence and productivity growth.
Applying Rivera-Batiz and Romer's (, RB-R hereafter) analytical hypothesis that integration leads to sharing of knowledge and technology, we develop a new theoretical.
"Convergence, Endogenous Growth, and Productivity Disturbances," Departmental Working Papers _, Chinese University of Hong Kong, Department of Economics.
Kenneth Button, " The Economist’s Perspective on Regional Endogenous Development," Chapters, in: Robert Stimson & Roger R. Stough & Peter Nijkamp (ed.), Endogenous Regional. Schumpeterian branch of endogenous growth theory is also consistent with the evidence of Charles I. Jones () on the falling productivity of R&D and with the growth-ac-counting exercises of Dale W.
Jorgenson () and Alwyn Young () that report a relatively small contribution of productivity to economic growth. Convergence, endogenous growth, and productivity disturbances.
/ Leung, Charles Ka Yui; Quah, Danny T. In: Journal of Monetary Economics, Vol. 38, No. 3,p. Convergence, endogenous growth, and productivity disturbances Leung, Charles Ka Yui and Quah, Danny () Convergence, endogenous growth, and productivity disturbances.
Journal of Monetary Economics, 38 (3). ISSN Full. Transitional dynamics and endogenous growth; Unemployment and growth Journal of Political Economy, (2), Baumol, W. Productivity growth, convergence and welfare: what the long-run data show. and Quah, Danny T. Convergence, endogenous growth and productivity disturbances.
Journal of Monetary Economics, front of the formulation of endogenous growth theory and the new growth empir-ics have begun to use long-term regional growth patterns to test and develop their ideas.
Their analyses suggest that regional convergence is a slow and discontinuous process. In this paper we consider whether endogenous growth theory can help to explain this finding. Download PDF: Sorry, we are unable to provide the full text but you may find it at the following location(s): (external link).
This study uses a well-known class of stochastic growth models to show other difficulties with traditional empirical studies of convergence.
Kev parameters typically cannot be estimated. Holtz-Eakin: w Public-Sector Capital and the Productivity Puzzle: Barro: w Government Spending in a Simple Model of Endogenous Growth: Hulten: w Infrastructure Capital and Economic Growth: How Well You Use It May Be More Important Than How Much You Have: Nadiri and Mamuneas: w The Effects of Public Infrastructure and R&D Capital on the Cost Structure and.
Convergence behaviour in exogenous growth models. University of Bristol discussion paper 06/ University of Bristol discussion paper 06/ Paci, Raffaele and Pigliaru, Francesco (). growth paths of the sort implied by the Solow-Swan model with a common world technology.
Similarly, it is often argued that the evidence of conditional β-convergence coming from cross-country growth regressions (see Robert J.
Barro and Xavier Sala-i-Martin, ) is consistent with neoclassical theory but not with endogenous growth theory. Economic growth analysis is the study of what factors and mechanisms deter-mine the time path of productivity (a simple index of productivity is output per unit of labor).
The focus is on • productivity levels and • productivity growth. Economic growth theory Economic growth theory endogenizes productivity growth via considering.
The economists at the forefront of the formulation of endogenous growth theory and the new growth empirics have begun to use long-term regional growth patterns to test and develop their ideas.
Their analyses suggest that regional convergence is a slow and discontinuous process.Leung, C. and Quah, D.T. (): ‘Convergence, Endogenous Growth, and Productivity Disturbances’, Journal of Monetary Economics, Google Scholar.Convergence, Endogenous Growth, and Productivity Disturbances CEPR Discussion Papers, C.E.P.R.
Discussion Papers View citations (13) Regional Convergence Clusters Across Europe CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations () Twin Peaks: Growth and Convergence in Models of Distribution Dynamics.