Testing growth theories: Time series evidence
Erich Gundlach ()
No 516, Kiel Working Papers from Kiel Institute for the World Economy (IfW)
Recent time series studies reject the hypothesis of catching up in terms of international per capita incomes as derived from the traditional neoclassical growth model. In turn, they seem to support new theories of economic growth which are capable of explaining persistent international differences in per capita incomes. In this paper I show that this finding is derived under a very restrictive econometric framework. Using a more flexible specification that allows for conditional convergence in per capita incomes and a gradual adjustment over time I derive results that are more favorable for the traditional growth model.
Keywords: development of per capita incomes; cointegration analysis; dynamic specification (search for similar items in EconPapers)
JEL-codes: C32 O47 (search for similar items in EconPapers)
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:zbw:ifwkwp:516
Access Statistics for this paper
More papers in Kiel Working Papers from Kiel Institute for the World Economy (IfW) Contact information at EDIRC.
Bibliographic data for series maintained by ZBW - Leibniz Information Centre for Economics ().