Growth and relative living standards - testing Barriers to Riches on post-war panel data

A. Patrick Minford, David Meenagh and Jiang Wang

No E2007/12, Cardiff Economics Working Papers from Cardiff University, Cardiff Business School, Economics Section

Abstract: The effect of business tax and regulation on growth, together with potential effects of government spending on education and R&D, is embodied in a model of a small open economy with growth choices. The structural model is estimated on post-war panel data for 76 countries and the bootstrap is used to produce the model's sampling variation for the analysis of panel regressions of growth. Statistical rejection can occur at either the structural or the growth regression stage. The models featuring government spending on education and R&D are rejected while that with business taxation is accepted.

Keywords: growth; living standards; business regulation; business taxation; public education; government R&D; structural model; bootstrap testing (search for similar items in EconPapers)
JEL-codes: C52 O41 O57 (search for similar items in EconPapers)
Pages: 40 pages
Date: 2007-04
New Economics Papers: this item is included in nep-edu
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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Working Paper: Growth and relative living standards - testing Barriers to Riches on post-war panel data (2007)
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