Cobb-Douglas Production Function: The Case of Poland’s Economy

Chaido Dritsaki () and Pavlos Stamatiou ()
Additional contact information
Chaido Dritsaki: Western Macedonia University of Applied Sciences
Pavlos Stamatiou: Western Macedonia University of Applied Sciences

Chapter Chapter 31 in Advances in Time Series Data Methods in Applied Economic Research, 2018, pp 465-483 from Springer

Abstract: Abstract The aim of this paper is to analyze the relationship between international trade and economic and financial development for Poland for the period 1990–2016. For this long run relationship we apply the autoregressive distributed lag—ARDL technique as it was formed by Pesaran and Shin (Econometrics and economic theory in the 20th century. The Ragnar Frisch centennial symposium. Cambridge University Press, Cambridge, 1999) and Pesaran et al. (J Appl Econ 16:289–326, 2001) as well as the augmented Cobb-Douglas production function formed by Mankiw et al. (Quart J Econ 107:407–437, 1992). The results of ARDL test confirm the existence of long run relationship between examined variables. Capital seems to be an impetus of economic development both in the short and long run, while labor has a negative impact in Poland’s economic growth. However, trade openness and financial development found to be insignificant on economic development both in the short and long run. Finally, causality results showed that there is a unilateral causal relationship between financial development and labor towards economic development and also a bilateral causal relationship between capital and trade openness with economic development.

Keywords: Cobb-Douglas production function; ARDL bounds test; Vector error correction model; Granger causality analysis; Poland (search for similar items in EconPapers)
JEL-codes: C23 C52 F43 (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations: View citations in EconPapers (1)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-030-02194-8_31

Ordering information: This item can be ordered from
http://www.springer.com/9783030021948

DOI: 10.1007/978-3-030-02194-8_31

Access Statistics for this chapter

More chapters in Springer Proceedings in Business and Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().