Determinants of Economic Growth: A Cross-Country Empirical Study

Robert Barro

No 5698, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: Empirical findings for a panel of around 100 countries from 1960 to 1990 strongly support the general notion of conditional convergence. For a given starting level of real per capita GDP, the growth rate is enhanced by higher initial schooling and life expectancy, lower fertility, lower government consumption, better maintenance of the rule of law, lower inflation, and improvements in the terms of trade. For given values of these and other variables, growth is negatively related to the initial level of real per capita GDP. Political freedom has only a weak effect on growth but there is some indication of a nonlinear relation. At low levels of political rights, an expansion of these rights stimulates economic growth. However, once a moderate amount of democracy has been attained, a further expansion reduces growth. In contrast to the small effect of democracy on growth, there is a strong positive influence of the standard of living on a country's propensity to experience democracy.

JEL-codes: O4 (search for similar items in EconPapers)
Date: 1996-08
Note: EFG
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (535)

Published as Robert J. Barro, 1998. "Determinants of Economic Growth: A Cross-Country Empirical Study," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262522543, April.
Published as Levine, Ross, 1998. "Robert J. Barro, Determinants of Economic Growth: A Cross-Country Empirical Study," Journal of Comparative Economics, Elsevier, vol. 26(4), pages 822-824, December.

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Related works:
Book: Determinants of Economic Growth: A Cross-Country Empirical Study (1998)
Working Paper: DETERMINANTS OF ECONOMIC GROWTH A CROSS-COUNTRY EMPIRICAL STUDY (1997)
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