English, Article, Journal or magazine article edition: Capital Accumulation and Growth: A New Look at the Empirical Evidence Steve Bond; Asli Leblebicioglu; Fabio Schiantarelli

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Bookmark: http://trove.nla.gov.au/version/73428
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Capital Accumulation and Growth: A New Look at the Empirical Evidence
Author
  • Steve Bond
  • Asli Leblebicioglu
  • Fabio Schiantarelli
Physical Description
  • preprint
Notes
  • Growth, Capital Accumulation, InvestmentS
  • RePEc:nuf:econwp:048
  • We present evidence that an increase in investment as a share of GDP predicts a higher growth rate of output per worker, not only temporarily, but also in the steady state. These results are found using pooled annual data for a large panel of countries, using pooled data for non-overlapping five-year periods, or allowing for heterogeneity across countries in regression coefficients. They are robust to model specifications and estimation methods. The evidence that investment has a long-run effect on growth rates is consistent with the main implication of certain endogenous growth models, such as the AK model.
  • RePEc:boc:bocoec:591
Language
  • English
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