A panel Granger-causality test of endogenous vs. exogenous growth

Jochen Hartwig

No 09-231, KOF Working papers from KOF Swiss Economic Institute, ETH Zurich

Abstract: The paper proposes a new test of endogenous vs. exogenous growth theories based on the Granger-causality methodology and applies it to a panel of 20 OECD countries. The test yields divergent evidence with respect to physical and human capital. For physical capital, the test results favor Solow-type exogenous growth theory over AK-type endogenous growth models. On the other hand, the test results lend support to human capital oriented endogenous growth models - like the Uzawa-Lucas model - rather than to the human capital augmented Solow model.

Pages: 32 pages
Date: 2009-07
New Economics Papers: this item is included in nep-ecm and nep-fdg
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Citations: View citations in EconPapers (5)

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