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The empirics of the Solow Growth Model: Long-term evidence. AgEcon
Barossi-Filho, Milton; Goncalves Silva, Ricardo; Diniz, Eliezer Martins.
In this paper we reassess the standard Solow growth model, using a dynamic panel data approach. A new methodology is chosen to deal with this problem. First, unit root tests for individual country time series were run. Second, panel data unit root and cointegration tests were performed. Finally, the panel cointegration dynamics is estimated by (DOLS) method. The resulting evidence supports roughly one-third capital share in income, a.
Tipo: Journal Article Palavras-chave: Economic growth; Panel data; Unit root; Cointegration and convergence; O47; O50; O57; C33; And C52.
Ano: 2005 URL: http://purl.umn.edu/37227
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The Forest Sector: Important Innovations AgEcon
Sedjo, Roger A..
Unlike other resources such as petroleum, coal, and copper, forests are renewable. Yet, in many respects forests historically have been treated as a nonrenewable resource in that forest stocks were depleted or "mined" and loggers moved on to exploit other "deposits." The lands were often put to other uses, typically agricultural, or allowed to regenerate naturally. This paper looks at technical change in forest extraction, i.e., logging under a number of different conditions. It finds that, on average, labor productivity has been increasing in recent decades. However, total factor productivity in the US has declined in recent years. In addition, the study examines the tree-growing potential of plantation forestry. It finds that there is underway a...
Tipo: Working or Discussion Paper Palavras-chave: Productivity; Resources; Forests; Timber; Technology; Innovations; Plantations; Logging; Genetics; Extraction; Resource /Energy Economics and Policy; O31; O32; O50; O51; Q23.
Ano: 1997 URL: http://purl.umn.edu/10667
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Tourism and Development: A Recent Phenomenon Built on Old (Institutional) Roots? AgEcon
Brau, Rinaldo; Di Liberto, Adriana; Pigliaru, Francesco.
Is tourism an opportunity for lagging countries in the elusive quest for growth (Easterly, 2002)? Recent empirical evidence suggests that the answer is a cautious yes. Aggregate cross-country data show that tourism specialization is likely to be associated with higher per capita GDP growth rates than those observed in industrialized countries. However, this evidence ignores the importance of institutional quality and results are likely to be biased by omitted variable problems. In this paper we frame our starting question within the general debate about the importance of good/bad institutions as fundamental determinants of economic growth (Acemoglu et al., 2001) and ask whether previous positive results of tourism on growth are in fact driven by the...
Tipo: Working or Discussion Paper Palavras-chave: Economic Development; Tourism Specialization; Institutions; Community/Rural/Urban Development; O11; O50; O47; F43; L83.
Ano: 2010 URL: http://purl.umn.edu/59425
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Creating the Conditions for International Business Expansion: The Impact of Regulation on Economic Growth in Developing Countries - A Cross-Country Analysis AgEcon
Jililian, Hossein; Kirkpatrick, Colin; Parker, David.
The role of an effective regulatory regime in promoting economic growth and development and therefore international business has generated considerable interest among researchers and practitioners in recent years. In particular, building effective regulatory structures in developing countries is not simply an issue of the technical design of the most appropriate regulatory instruments, it is also concerned with the quality of supporting regulatory institutions and capacity. Many of the institutions that support markets are publicly provided and the effectiveness of these regulatory institutions can be expected to be an important determinant of how well markets function. This paper explores the role of regulation in affecting economic outcomes using an...
Tipo: Working or Discussion Paper Palavras-chave: Economic growth; Regulation; Governance; Institutions; Economic performance; International Development; C23; I18; L33; L51; L98; O38; O50.
Ano: 2003 URL: http://purl.umn.edu/30554
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A Financial Contracting Approach to the Role of Supermarkets in Farmers' Credit Access AgEcon
Marcoul, Philippe; Veyssiere, Luc.
Replaced with revised version of paper 10/17/08.
Tipo: Conference Paper or Presentation Palavras-chave: Financial Contracting; Development; Financial Intermediation; Food Standards; Organization of Production; Supermarket; Agribusiness; Agricultural Finance; O17; O33; O50; Q12; Q13.
Ano: 2008 URL: http://purl.umn.edu/6366
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Reflections AgEcon
Ranis, Gustav.
This paper examines the causes of Taiwan's exceptional economic performance, focusing on the influence of organizational and policy choices and how Taiwan's example differs from those of more typical less-developed countries. After briefly citing cultural factors as proposed by his late colleague John Fei, Ranis proceeds to explore the issues of organic nationalism, natural resource endowment, access to foreign capital and other political factors that have produced such economic success. The author demonstrates how Taiwan's unique combination of strong organic nationalism, meager natural resources and limited access to foreign capital helped curb the Extended Dutch Disease phenomenon endemic in LDCs. In addition, the government's nonoscillatory, relatively...
Tipo: Working or Discussion Paper Palavras-chave: Economic development; LDC; Political economy; Taiwan; Extended Dutch disease; Democracy; International Development; Political Economy; O10; O11; O50; P16.
Ano: 1997 URL: http://purl.umn.edu/28422
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Competition, Regulation and Privatisation of Electricity Generation in Developing Countries: Does the Sequencing of the Reforms Matter? AgEcon
Zhang, Yingang; Parker, David; Kirkpatrick, Colin.
Recent years have seen countries introducing reform of their utility industries with a view to promoting private ownership and competition. This paper studies the effect of the sequencing of privatisation, competition and regulation reforms in electricity generation using data from 25 developing countries for the period 1985 to 2001. A fixed effects panel data model is used. The study finds that establishing an independent regulatory authority and introducing competition before privatisation is correlated with higher electricity generation, higher generation capacity and, in the case of the sequence of competition before privatisation, improved capital utilisation.
Tipo: Working or Discussion Paper Palavras-chave: Privatisation; Competition; Regulation; Developing economies; Economic performance.; Resource /Energy Economics and Policy; L33; L43; L44; L50; 012; O38; O50.
Ano: 2004 URL: http://purl.umn.edu/30599
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INFORMATION AND COMMUNICATION TECHNOLOGY AND NEW ZEALAND'S PRODUCTIVITY MALAISE: AN INDUSTRY-LEVEL STUDY AgEcon
Engelbrecht, Hans-Jurgen; Xayavong, Vilaphonh.
This paper examines the link between information and communication technology (ICT) and New Zealand's labour productivity (LP) growth in 29 industries over the period 1988-2003, and over relevant sub-periods. After deriving an ICT intensity index in order to classify industries into 'more ICT intensive' and 'less ICT intensive', we compare LP growth rates for these two industry groupings. Further, we employ dummy variable regression models, including difference-in-difference models, to more formally test the relationship between ICT intensity and LP growth. The results prove to be sensitive to the time period specified. When breaks in the data series are taken into account, there seems to be support for the view that LP growth of more ICT intensive...
Tipo: Working or Discussion Paper Palavras-chave: Information and Communication Technology; Labour Productivity Growth; ICT Intensive Industries; New Zealand.; Productivity Analysis; O47; O50.
Ano: 2004 URL: http://purl.umn.edu/23698
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