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The Role of Production Progress and Human Capital in the Economic Growth of Latvia

Aleksejs Meļihovs and Gundars Davidsons
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Gundars Davidsons: Bank of Latvia

No 2006/03, Working Papers from Latvijas Banka

Abstract: The paper sets a goal to assess the significance of production progress and human capital for the Latvian economy and to estimate long-term growth rates of the country's economic development. The authors made an attempt to construct a production function using non-linear modelling. In order to improve the production function model for Latvia, the authors augmented the model by human capital approximation.

Keywords: production function; non-linear modelling; human capital; total factor productivity (search for similar items in EconPapers)
JEL-codes: C32 E23 J24 O47 (search for similar items in EconPapers)
Date: 2006-12-18
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