EconPapers    
Economics at your fingertips  
 

Sources of growth revisited: The importance of the nature of technological progress

Senay Acikgoz () and Merter Mert ()

Journal of Applied Economics, 2014, vol. 17, 31-62

Abstract: Traditional sources of growth studies generally assume that the nature of technological progress is Hicks-neutral. However, the nature of technological progress compatible with steady state conditions is Harrod-neutral rather than Hicks-neutral. This study thus investigates sources of growth for Hong-Kong, the Republic of Korea, Singapore and Taiwan using the bounds testing procedure of Pesaran, Shin and Smith (2001) and the autoregressive distributed lag (ARDL) approach of Pesaran and Shin (1999). The robustness of the test results and parameter estimates are also justified by the fully modified ordinary least squares approach of Phillips and Hansen (1990). The results emphasize that the fundamental source of economic growth is technological progress in the short-run.

Keywords: economic growth; technological progress; the bounds testing approach; ARDL; FM-OLS (search for similar items in EconPapers)
JEL-codes: O30 O47 O57 C22 (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations: View citations in EconPapers (15) Track citations by RSS feed

Downloads: (external link)
https://ucema.edu.ar/publicaciones/download/volume17/acikgoz.pdf (application/pdf)

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:cem:jaecon:v:17:y:2014:n:1:p:31-62

Access Statistics for this article

Journal of Applied Economics is currently edited by Germán Coloma and Mariana Conte Grand and Jorge M. Streb

More articles in Journal of Applied Economics from Universidad del CEMA Contact information at EDIRC.
Bibliographic data for series maintained by Valeria Dowding ().

 
Page updated 2021-01-17
Handle: RePEc:cem:jaecon:v:17:y:2014:n:1:p:31-62