Growth and Externalities Across Economies: An Empirical Analysis Using Spatial Econometrics

Esther Vayá, Enrique Lopez-Bazo, Rosina Moreno and Jordi Suriñach
Additional contact information
Esther Vayá: University of Barcelona
Rosina Moreno: University of Barcelona

Chapter 20 in Advances in Spatial Econometrics, 2004, pp 433-455 from Springer

Abstract: Abstract Recent theoretical models of economic growth emphasize the importance of external effects for the accumulation of factors of production (Romer, 1986, 1990; Lucas, 1988). Externalities imply that an increase in the stock of reproducible factors leads to an improvement in the level of technology that cannot be fully appropriated by the agent making the investment. As a result, the aggregate or social return on the investment is greater than the private return obtained by the individual agent. A crucial assumption is usually that externalities spread over the entire economy, affecting the level of technology of each individual firm.

Keywords: Human Capital; Ordinary Less Square; Total Factor Productivity; Physical Capital; Growth Equation (search for similar items in EconPapers)
Date: 2004
References: Add references at CitEc
Citations: View citations in EconPapers (14)

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

Related works:
Working Paper: Growth and externalities across economies. An empirical analysis using spatial econometrics (2000)
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:adspcp:978-3-662-05617-2_20

Ordering information: This item can be ordered from
http://www.springer.com/9783662056172

DOI: 10.1007/978-3-662-05617-2_20

Access Statistics for this chapter

More chapters in Advances in Spatial Science from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().